Suppose that when the price of hamburgers decreases, the Landry family decreases their purchases of chicken nuggets. To the Landry family
A) hamburgers and chicken nuggets are complements.
B) hamburgers and chicken nuggets are inferior goods.
C) hamburgers and chicken nuggets are normal goods.
D) hamburgers and chicken nuggets are substitutes.
Answer: D
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Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed persons is ________ and the new unemployment rate is ________
A) 100.1 million; 5.8 percent B) 100 million; 6.1 percent C) 94.1 million; 5.9 percent D) 93.9 million; 6.1 percent
Which of the following is one of the reasons for declining union membership in the United States?
A) Much of the unskilled, nonunionized work in the United States is done by immigrant workers who are undocumented. B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions. C) the repeal of the Taft-Hartley Act D) Labor force participation by women has decreased.
The law of diminishing marginal utility implies that the marginal utility of my fifth waffle is less than the marginal utility of my friend's second waffle, other things constant
a. True b. False
What economic concept is exemplified by an employer offering tuition reimbursement to employees who are continuing their education?
a. marginal benefit b. marginal cost c. positive incentive d. negative incentive