There are a number of reasons why labor supply curves will shift in a particular industry. Which one of the following is NOT one of them?
A. There is a change in the market wage rate.
B. Taxes on labor affect the labor supply curve.
C. job flexibility that determines the position of the labor supply curve
D. Changes in working conditions in an industry affect the labor supply curve.
Answer: A
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Which of the following best expresses the attitude toward competition of a firm engaged in tacit collusion with its rivals?
a. A rolling stone gathers no moss. b. Waste not, want not. c. Do unto others as you would have them do unto you. d. Ask, and ye shall receive.
Proponents of the flexible exchange rate system argue that under a fixed exchange rate system,
A) there is too great a chance that the exchange rate will diverge from the equilibrium exchange rate. B) nations that experience persistent trade deficits might be tempted to impose trade barriers. C) nations might sacrifice their domestic economic policy goals for the sake of maintaining the exchange rate. D) b and c E) a, b, and c