A firm producing dresses currently uses 1,347 hours of labor to produce 2,509 dresses per week. The average product of labor
a. cannot be determined from the information given
b. is 2,509 dresses per labor hour.
c. is 1.86 dresses per labor hour.
d. is 186 dresses per labor hour.
c. is 1.86 dresses per labor hour.
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Lowering a fixed exchange rate by a government is called a(n) __________ of that rate
A) devaluation B) revaluation C) appreciation D) depreciation
The cross-price elasticity between a pair of complementary goods will be
A) positive. B) negative. C) zero. D) positive or zero depending upon the strength of the relationship.
Using the above table, the national income is (in billions of dollars)
A. 8,950. B. 6,850. C. 7,250. D. 8,050.
According to the ________ explanation of unemployment, workers will be willing to accept wage cuts only if they know that workers in other firms and industries are receiving similar cuts.
A. minimum-wage B. relative-wage C. living-wage D. nominal-wage