A major explanation for the decline in employment projected in textiles is
A) increases in income.
B) social problems in the U.S.
C) shifts in production toward low-wage countries.
D) inaccurate expectations about productivity growth.
E) inaccurate expectations about the price level.
C
You might also like to view...
We cannot be certain that a general sales tax will decrease labor supply because _____
a. of the effect of lower income on labor supply b. of the effect of higher tax revenue on consumption c. of the effect of the sales tax on labor supply d. we do not know about labor demand
Suppose that in the market for paper, demand is p = 100 - Q. The private marginal cost is MCp = 10 + Q. Pollution generated during the production process creates external marginal harm equal to MCe = Q
What specific tax would result in a competitive market producing the socially optimal quantity of paper?