One problem with the unemployment rate is that:
A. discouraged workers are included in the calculation.
B. the data includes part-time workers as fully employed.
C. underemployment is measured in the calculation.
D. teen workers are excluded from the statistics.
Answer: B
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Producing a differentiated product occurs in which of the following industries?
A) oligopoly, monopolistic competition, and perfect competition B) monopolistic competition and oligopoly C) monopolistic competition only D) oligopoly only
A contingent contract can create production inefficiency; however, many principals accept this because
A) inefficiency is inevitable. B) monitoring is costless. C) risk is reduced. D) profit will increase as a result.
A producer tries to maximize profits by operating at an output where:
a) MC equals price. b) Price minus ATC is greatest. c) MR is greater then MC. d) the profit per unit is greatest.
Some form of financial distress can become a full-blown recession if risk lead to ____ interest rates and ____ aggregate demand.
A. higher; increased B. higher; decreased C. lower; increased D. lower; decreased