There is a/an ________ relationship between educational level of the labor force and the unemployment rate.
A. inverse relationship
B. cyclical relationship
C. positive relationship
D. direct relationship
Answer: A
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The magnitude of the slope of an indifference curve
A) is equal to the marginal rate of substitution. B) always equals the relative price of the product measured along the horizontal axis. C) increases as income increases. D) decreases when income increases.
GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year b. All intermediate goods and services produced in an economy in a given year c. All final goods and services produced in an economy in a given year d. All expenditures on consumption, investment, and net exports in an economy in a given year
Assume the firm is a profit-maximizing/loss-minimizing monopoly. Using the data in the graph above, calculate the firm's total profit or loss.
Suppose that in 2011, 4 million plasma TVs were purchased at $950 each, while in 2012, 3 million plasma TVs were purchased at $800 each. What might have caused this change?
A. The price of LCD TVs (a substitute for plasma TVs) fell. B. The price of LCD TVs (a substitute for plasma TVs) rose. C. Plasma TV manufacturing technology increased. D. Plasma TV manufacturing technology decreased.