The paradox of American farming is
A) food has become cheaper and more abundant as the number of farms has decreased.
B) the demand for imported luxury food products has risen as the demand for domestic food products has fallen.
C) the demand for food has risen as the number of people who pursue farming as a career has fallen.
D) the amount of food produced has increased as the average farm size has fallen.
A
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Increases in the real wage will lead workers to supply more hours of labor
Indicate whether the statement is true or false
Referring to the graph above, assume that, at first, the labor market is in equilibrium at point 4. In which scenario does unemployment rise, with no change in the quantity of employment?
A) real wage rises to the level of points 1 and 2 B) supply shifts to pass through point 5, with no change in the real wage C) demand shifts to pass through point 3, with no change in the real wage D) supply shifts to pass through point 3, with no change in the real wage