Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?
a. someone working without pay for a family member's business
b. someone who is absent from their job due to illness
c. someone on temporary layoff
d. All of the above are correct.
c
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The demand for DVDs increases. As a result
A) the wage rate in the DVD industry increases and the quantity demanded of workers increases. B) the wage rate in the DVD industry increases and the quantity supplied of workers increases. C) the demand for labor increases and the supply of labor also increases, leaving wages unchanged. D) the demand for labor increases, but since the supply curve of labor is perfectly elastic, the wage rate does not change.
Economic profits are: a. less than accounting profits if implicit costs are greater than zero. b. less than accounting profits even if implicit costs are zero
c. greater than accounting profits if implicit costs are greater than zero. d. greater than accounting profits even if implicit costs are zero.
Under current antitrust laws, conglomerates are
a. illegal per se b. legal in the United States, but illegal internationally c. immune from prosecution d. legal only if they can show they are efficient e. illegal when necessities such as food are involved
Regarding increasing productivity, factor mobility is
A. Important in that it helps to fix a stable labor-intensive production process. B. Important in that it helps to fix a stable capital-intensive production process. C. Not important in either a stable or dynamic economy. D. Important in that it helps to reallocate resources in a dynamic economy.