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Author Question: Refer to the figure above. If there is downward wage rigidity in the market, what will be the ... (Read 32 times)

ghost!

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on: Jun 30, 2018
Refer to the figure above. If there is downward wage rigidity in the market, what will be the unemployment in the market after the demand curve shifts to LD2?
 
  A) 20 units of labor B) 5 units of labor C) 10 units of labor D) 15 units of labor

Question 2

Suppose the nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots, it can make 40 per day. If Arcadia produces only surfboards, it can make 60 per day.
 
  What is the opportunity cost of 1 teapot in Arcadia?
  A) 2/3 of a surfboard B) 1.5 surfboards C) 40 surfboards D) 60 surfboards


gstein359

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


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