Which of the following best explains the cause of the change in the unemployment rate at the end of a recession?
A) Firms rapidly hire new workers at the first sign of an increase in demand for their goods.
B) Firms are hesitant to rehire laid-off workers as they continue to operate below capacity.
C) Discouraged workers begin to return to the labor force, causing the unemployment rate to fall.
D) Frictionally unemployed workers find it easier to gain employment, lowering the natural rate of unemployment.
B
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The value of a slice of pizza to a consumer is equal to
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Damian owns a tattoo parlor and has hired three tattoo artists to work for him. The marginal product of labor is 8 for the first artist, 12 for the second artist, and 7 for the third artist
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a. cost, greater than, benefit b. benefit, greater than, cost c. cost, equal to, benefit d. benefit, less than, cost e. benefit, equal to, cost
If more French tourists visit the Grand Canyon, what is the effect in the exchange market? a. It will increase the supply of U.S. dollars
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