Providing workers with on-the-job training will increase:
A. the labor force participation rate.
B. the unemployment rate.
C. average labor productivity.
D. the share of the population employed.
Answer: C
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If the aggregate supply curve is vertical, then the short-run Phillips curve will
a. be horizontal. b. also be vertical. c. slope upward. d. slope downward.
Consumer Willingness to Pay Tom $40 Dick $30 Harriet $25 The table above lists the highest prices three consumers, Tom, Dick and Harriet, are willing to pay for a short-sleeved polo shirt. If the price of one of the shirts is $28 dollars
A) Tom will buy two shirts, Dick will buy one shirt and Harriet will buy no shirts.
B) Tom will receive $12 of consumer surplus from buying one shirt.
C) Tom and Dick receive a total of $70 of consumer surplus from buying one shirt each. Harriet will buy no shirts.
D) Harriet will receive $25 of consumer surplus since she will buy no shirts.