Persistent wage differentials between people having different skills violate the W = MRP ethic associated with the perfectly competitive market for labor
Indicate whether the statement is true or false
F
Economics
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Refer to the above figure. Suppose the economy is at C. If the government tried to reduce the unemployment rate to 3 percent, the new long-run outcome will be at point
A) A. B) C. C) D. D) H.
Economics
At any price the monopolist sets, it will sell:
A. less than quantity demanded to keep the item rare. B. as many as demanders are willing to buy. C. as many as it wants. D. more than a perfectly competitive market would sell.
Economics