Real-wage unemployment can be caused by which of the following?
A. Retraining programs
B. Low-interest student loans
C. Minimum wage laws
D. None of these cause real-wage unemployment.
Answer: C
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An open market ________ by the Fed decreases the money supply, which leads to ________ interest rates and a fall in investment spending
A) sale; decreased B) sale; increased C) purchase; increased D) purchase; decreased
The Federal funds market is a market for trading funds between
A) a bank and a multinational corporation. B) a bank and the government. C) a bank and another bank. D) a bank and the Federal Reserve Bank.
Ford Motor Company was one of the first major companies to adopt a wage structure that is comparable to efficiency wages. What was the outcome of Ford's experiment with efficiency wages?
A) Lower labor force turnover B) Higher labor productivity C) Less absenteeism D) all of the above
Assume that one laborer produces 6 units of output, two laborers produce 14 units, three produce 20 units, and four produce 24 units. If the cost is $20 per unit of labor and fixed costs are $100, what is the average total cost of producing 14 units of output?
a. $50 b. $20 c. $10 d. $100 e. $40