Without any restrictions in a perfectly competitive market, if there is a sudden rightward shift in the demand for a good:
A) sellers of the good will increase the supply of the good at the same price.
B) sellers of the good will increase the quantity of the good supplied in the market.
C) sellers of the good will decrease the supply of the good at the same price.
D) sellers of the good will decrease the quantity supplied.
B
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Which of the following is the closest example of structural unemployment?
a. An accountant quitting her job to become an investment banker b. An auto worker being fired for poor job performance c. Workers in a firm manufacturing films for roll film cameras losing jobs due to the popularity of digital cameras d. A consultant being laid off because poor economic conditions have depressed the market for consultants e. A college graduate seeking his/her first job in the IT industry
The egalitarian principle of income refers to
A) each person being paid differently. B) each person receiving the same income. C) each person receiving tax breaks. D) each person working the same number of hours.