________ is (are) most likely a variable cost for a firm.
A. Monthly health insurance expenses for employees
B. The monthly lease payment on a delivery truck that is leased for three years
C. The plumbing company's annual licensing fee
D. The quarterly payments for a two-year maintenance contract for copy machines
Answer: A
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According to Okun's Law, when the natural employment rate is 6 percent and potential GDP is $10 trillion, then when actual employment is 5 percent, real GDP is
A) $10.1 trillion. B) $9.9 trillion. C) $9.8 trillion. D) $10.2 trillion. E) $8 trillion.
If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:
A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.
If consumers experience an decrease in lifetime income, current spending will ________, current saving will ________, and future spending will ________
A) decrease; decrease; decrease B) increase; decrease; decrease C) increase; decrease; increase D) increase; increase; decrease E) decrease; increase; increase
How does the use of collateral and net worth help reduce the problem of adverse selection?
What will be an ideal response?