After an increase in the demand for construction workers, the market will attain its new long-run equilibrium faster if
A) wages are flexible.
B) wages are inflexible, forcing new people to enter the market.
C) unions restrict the number of new construction workers.
D) people ignore the shortage in the short run.
Answer: A
Economics
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In the above figure, Sheryl's monthly budget line for movies and plays shifted, as shown. The shift in the budget line is parallel, so the shift might be because
A) the price of a movie fell and nothing else changed. B) the price of a play fell and nothing else changed. C) Sheryl's income decreased and nothing else changed. D) Sheryl's income increased and nothing else changed.
Economics
A free-rider problem occurs when the
A) good is excludable. B) good is offered at no charge. C) good is rival. D) good is nonexcludable.
Economics