Which of the following labor market statistics best indicates the amount of labor that is available to the economy from a given working-age population?
A) unemployment rate
B) discouraged-worker ratio
C) labor force participation rate
D) the ratio of minimum wage to inflation
Answer: C
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If total fixed cost increases, then the average total cost curve ________ and the marginal cost curve ________
A) does not shift; shifts upward B) shifts upward; shifts upward C) does not shift; does not shift D) shifts upward; does not shift
If you were running an advertising campaign for designer men's suits, you should target families with:
A. poor taste in clothing. B. lower incomes. C. similar tastes and preferences. D. higher incomes.
Which of the following reasons for making drug sales illegal do economists generally endorse?
A. The harm they do to innocent victims. B. The harm they do to people who knowingly take them. C. The risks associated with selling them. D. The harm they do to people who knowingly take them and the risks associated with selling them.
Refer to the information provided in Figure 6.6 below to answer the question(s) that follow.
Figure 6.6Refer to Figure 6.6. Bill's budget constraint is BD. If the price of bell peppers increases, Bill's new budget constraint is
A. EF. B. AO. C. AD. D. CD.