Assume consumer demand for CD-ROMs increases. The result is a(n):
a. increase in derived demand for workers in the CD-ROM industry.
b. increase in the marginal revenue product of firms in the CD-ROM industry.
c. rightward shift in the market demand for labor curve in the CD-ROM industry.
d. all of these.
e. none of these.
d
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The Illyrian economy has 1000 people in the labor force. 100 people don't have jobs but are searching for work, another 100 people would like to have jobs but quit searching because of poor job prospects, and another 100 people don't work and don't
want to work. What's the rate of unemployment? A) 10 percent B) 20 percent C) 30 percent D) 100 percent E) None of the above.
The demand for slaves was increasing more rapidly in cities than on plantations
Indicate whether the statement is true or false
Which of the following is not an effort by McDonald's to cope with diseconomies of scale?
a. being exposed to country and regions risk, such as environmental protests b. putting mini-restaurants in airports, gas stations, and Wal-Marts c. allowing managers in each region of the U.S. more leeway in pricing and promotion d. reducing product development time e. closing unprofitable restaurants
Which of the following would likely be traded in a monopolistically competitive market?
a. Electricity b. Airline Tickets c. Pizza d. Wheat e. Water