In the United States, the average replacement ratio associated with unemployment insurance benefits is
A. 80%.
B. 100%.
C. 35%.
D. 10%.
E. 50%.
Answer: C
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The quantity of real GDP produced by one hour of labor is defined as
A) the advance in technology. B) economic growth. C) the growth rate of technology. D) real GDP per person. E) labor productivity.
It is conventional to divide the nation's total production into four categories. Name and explain the four categories. In the United States, which category accounts for the largest share and the smallest share of the nation's total production?
What will be an ideal response?
Profit-maximizing employment is the quantity of labor at which
A) marginal revenue product is equal to marginal factor cost. B) marginal revenue product is equal to product price. C) marginal factor cost is equal to marginal revenue. D) marginal factor product is equal to product price.
A person or a country can have comparative advantage in all activities.
Answer the following statement true (T) or false (F)