Which of the following terms is used for workers with little experience and job training?
a. discouraged worker labor market
b. efficiency wage labor market
c. low-skilled labor market
d. underemployment labor market
c. low-skilled labor market
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The main disadvantage of using money as a store of value is that:
A. other assets pay relatively higher rates of interest than money. B. other assets provide greater anonymity than cash. C. barter is a more efficient way to conduct transactions than using money. D. unlike other assets, money serves as a medium of exchange.
The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). At the current price of $0.35 per minute, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $1,250.00.
The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 75 percent
A) the quantity of polluted air is 75 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal.
According to the rule of 70, if a person's saving doubles in 10 years, what interest rate were they earning?
a. 3.5 b. 7 c. 14 d. None of the above is correct.