A major computer software company maintains a technical support center in a rural area and is the only employer in this region. Suppose the local labor supply curve shifts leftward due to net migration of workers from the area
What happens to the equilibrium outcome in this labor market? A) Labor demand shifts rightward, equilibrium wage and employment levels decline
B) Labor demand shifts rightward, equilibrium wage and employment levels increase
C) Labor demand curve remains the same, equilibrium wage and employment levels increase
D) Labor demand curve remains the same, equilibrium wage increases, and employment declines
D
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Specialization arises because
A) some people don't like doing some tasks. B) differences in the costs of production give some producers a comparative advantage in the production of particular goods or services. C) the government directs resources into certain activities. D) inefficient production forces producers to trade.
Which of the following countries averaged GDP growth (after adjusting for inflation) of at least 5% per year both from 1990 to 2000 and from 2000 to 2008, and therefore, can be grouped into the fast-growth category?
a. Cambodia b. Canada c. Japan d. Jamaica