If a firm goes out of business, what happens to the firm’s assets and workers?
A. The assets and workers become available for use by other firms in potentially more productive ways.
B. The assets and talents of the employees are lost permanently.
C. The assets and talents of the workers must remain with the firm owners
D. The assets and workers become available for use by other firms, but only for less productive purposes.
Ans: A. The assets and workers become available for use by other firms in potentially more productive ways.
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Only a few countries have followed outward-oriented development strategies for extensive periods of time. Which of the following countries is not one of those that have followed such a strategy successfully in the last decades
A) Russia B) Japan C) South Korea D) Singapore
________ will cause a movement along the modern Phillips curve
A) An increase in oil prices B) An increase in the price of imports C) Wage agreements that include compensation for inflation D) all of the above E) none of the above
The marginal revenue of a monopolist
A. Is equal to price at all output levels. B. Is positive up to the rate of output that maximizes total revenue. C. Is negative up to the rate of output that maximizes total revenue. D. Is above a downward-sloping demand curve.
Which categories of people are excluded while estimating the number of potential workers in the United States?
What will be an ideal response?