If individuals are paid the wage at which the supply of labor is equal to the demand for labor,
A) no unemployment exists, and workers have no incentive to shirk.
B) no unemployment exists, and workers have an incentive to shirk.
C) some unemployment still exists, but workers have no incentive to shirk.
D) some unemployment still exists, but managers can tell whether or not workers are shirking.
B
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Which of the following is true of international trade?
A) International trade reduces the total surplus enjoyed by an economy. B) International trade benefits all participants equally. C) International trade in services is not allowed. D) International trade increases overall economic efficiency.
According to public choice theory, low voter turnouts are the result of voters
A) being apathetic. B) being uninformed. C) being lazy. D) disliking the candidates. E) calculating their costs and benefits of voting.