In the DMP model, a decrease in productivity
A) decreases the unemployment rate.
B) reduces the vacancy rate.
C) increases the unemployment rate.
D) increases the size of the labor force.
C
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Suppose the price of a DVD rose from $15 to $17 and the quantity demanded decreased from 1,000 per month to 900 per month. Using the midpoint formula, the ________ percent change in price led to a ________ percent change in the quantity demanded
A) 12.5; 10.5 B) 13.3; 10.0 C) 11.8; 11.1 D) 8.0; 9.5 E) None of the above answers is correct.
If four workers can produce 18 chairs a day and five can produce 20 chairs a day, the marginal product of the fifth worker is
A) 2 chairs. B) 3 chairs. C) 4 chairs. D) 38 chairs.
Refer to the above diagram for good X. A shift from D2 to D1 would best be explained by:
A. an increase in the price of good X. B. an increase in the price of a complementary good Y. C. an increase in the price of a substitute good Z. D. a decrease in the price of good X.
Use the above table. At an income of $50
A. real dissaving is $50. B. real saving is $10. C. real saving is $20. D. real dissaving is $10.