Which of the following is a normative question?
A. Should the government require cars to be fuel efficient?
B. Does legalized abortion lead to lower crime rates?
C. Will moving a plant overseas reduce production costs?
D. Will an increase in the minimum wage reduce poverty?
A. Should the government require cars to be fuel efficient?
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The table above gives information about the labor market in Lantis, a community in which the labor market is perfectly competitive. The equilibrium wage rate is ________ an hour and the quantity of labor employed is ________ hours per day
A) $5; 600 B) $25; 200 C) $15; 400 D) None of the above answers is correct.
The layoff of workers in virtually all industries during the 1982 recession is an example of the classification of workers as
A) voluntarily unemployed. B) structurally unemployed. C) cyclically unemployed. D) frictionally unemployed.