Suppose a Russian economist told you that since the fall of communism, the Russian income distribution has shifted to perfect inequality, you would know then (no need to calculate), that the Russian Gini coefficient is

What determines the demand for labor, the supply of labor, and labor market equilibrium?

What will be an ideal response?

What does new technology generally do to production?

(A) It lowers cost and decreases supply. (B) It lowers cost and increases supply. (C) It has very little effect on production. (D) It increases cost and decreases supply.