A? profit-maximizing firm will hire the number of workers where wage equals marginal-revenue product .

Inflation is the increase in:

A. imports relative to exports. B. total output per worker. C. total output. D. the general level of prices.

A rational citizen may decide not to vote __________.

a. but is then behaving in an irrational manner even if they are utility maximizing b. if the issues are not interesting to them even though the cost of obtaining information and voting are low c. if the cost of obtaining information about the issues and voting are greater than the chance their one vote will influence the election d. if the benefits of voting are low or non-existent even when the costs of voting are low

The unemployment rate measures the:

a. percentage of the labor force who are not working but looking for work. b. percentage of the labor force who have failed to find work in the last 2 months. c. percentage of working adults lacking proper technical skills. d. percentage of the labor force incapable of productive work.

When the absolute price elasticity of demand is greater than 1, demand is

A. elastic. B. unit-elastic. C. inelastic. D. undetermined without more information.