Which of the following is an example of capital income?
A) Wage paid to a worker B) Free lunch at work
C) Interest earned on money lent out D) Free parking space in a mall
C
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Marginal cost is the
a. change in total cost resulting from producing one more unit of output. b. change in total fixed cost resulting from producing one more unit of output. c. total cost when one more unit of output is produced. d. total fixed cost when one more unit of output is produced.
If the reserve requirement is 10%, and a depositor withdraws $1,000 from a bank, the bank's excess reserves will change by:
a. -1,000 b. +1,000 c. -100 d. -900 e. +900
A decrease in supply _____ price and _____ the quantity sold.
Fill in the blank(s) with the appropriate word(s).
Frictional unemployment describes
A. recent entrants, re-entrants, and voluntary quits who require only a short time to find new employment. B. the growing number of job seekers whose absence of skills makes them unemployable in any line of work except unskilled, dead-end jobs. C. the loss of jobs resulting from periods of recession. D. extended periods of unemployment during which retraining for new jobs occurs. E. seasonal layoffs and periods without work, such as construction and public school teaching.