In Exhibit 11-5, at what wage rate will the firms stop hiring these workers?
A. $25.00.
B. $20.00.
C. $15.00.
D. $10.00.
Answer: C
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If the interest rate is 5 percent, what is the present value of $100 that will be received 3 years from now?
A) $90.70 B) $86.38 C) $115.00 D) $13.62
Holding other factors constant, the implementation of a federal job retraining program would likely
A) reduce cyclical unemployment and the natural rate of unemployment. B) reduce structural unemployment and the natural rate of unemployment. C) reduce frictional unemployment and the natural rate of unemployment. D) increase the natural rate of unemployment.
A difference between the new classical and monetarist models is that expectations in the new classical model are _____ while they are _____ in the monetarist model
a. forward looking; backward looking. b. rational; adaptive. c. correct; mistaken. d. perfectly competitive; imperfectly competitive. e. both a and b.
As output increases, diseconomies of scale
a. lead to rising long-run average costs b. lead to declining long-run average costs c. lead to rising short-run average total costs d. lead to declining short-run total cost e. means the law of diminishing marginal returns is affecting production