The Bureau of Labor Statistics places people in the "employed" category if they
a. are temporarily absent from their jobs.
b. are self-employed.
c. work without pay in a family member's business.
d. All of the above are correct.
d
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Consumer surplus is equal to
A) marginal benefit minus price summed over the quantity consumed. B) price minus marginal benefit summed over the quantity consumed. C) marginal benefit summed over the quantity consumed. D) price multiplied by the quantity consumed. E) marginal benefit plus price summed over the quantity consumed.
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total cost?
a. $200 b. $1,000 c. $520 d. $320
The point at which the burden of a tax ultimately rests is known as the
a. effect of the tax. b. impact of the tax. c. incidence of the tax. d. direction of the tax.
Which of the following is not a valid explanation for the high unemployment rate among African American teens?
A. discrimination B. concentration in inner cities where job opportunities for less-skilled workers are inadequate C. lack of desire to work D. minimum wage law