If the economy was producing at point D and moved to point C
A. the unemployment rate would decrease.
B. the production possibilities frontier would shift outward.
C. the production possibilities frontier would shift inward.
D. None of these choices are true.
D. None of these choices are true.
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The table below describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls PerHourNumber ofTelephonesPer HourNumber ofWorkersPer Hour0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225What is the total cost of making 6 calls an hour?
A. $40 B. $60 C. $30 D. $65
In the DMP model, a decrease in productivity
A) decreases the unemployment rate. B) reduces the vacancy rate. C) increases the unemployment rate. D) increases the size of the labor force.
Which of the following is a positive economic statement?
A) No individual should live in poverty. B) The rate of unemployment of young African-Americans exceeds that of white Americans. C) Unemployment is a more serious societal problem than inflation. D) Economic considerations are less relevant than ethical issues in deciding national policy.
A purely competitive firm is producing at the point where its marginal cost equals the price of its product. If the firm increases its output, then total revenue will:
A. Increase and profits will increase B. Decrease and profits will increase C. Increase and profits will decrease D. Decrease and profits will decrease