Judging from the table, which of the following is the best estimate for the percentage of discouraged workers in the civilian labor force?
a. 0.2 percent
b. 0.9 percent
c. 1.3 percent
d. 3.5 percent
a. 0.2 percent
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For profit-maximizing monopolies, explain why the boundaries on the Lerner Index are 0 and 1
What will be an ideal response?
A person has a comparative advantage in producing a good if that person:
a. can produce the good at a lower absolute cost than anyone else. b. can produce the good at a lower opportunity cost than anyone else. c. can do a better job than anyone else. d. spends more money in out-of-pocket expenses than anyone else. e. can produce the good at a higher opportunity cost than anyone else.
In the dollar-pound market, the equilibrium price of the pound will change
a. only when there is a shift of the demand curve for pounds b. only when there is a shift of the supply curve for pounds c. only when there are shifts of both the supply for pounds and demand for pounds curves d. whenever there is a shift of either the supply or demand curves for pounds e. whenever there is movement along either the supply or the demand for pounds curves
Which of the following is most likely to cause the productivity of labor to increase?
a. higher money wages b. a higher rate of investment in human and nonhuman capital c. more flexible working hours and improved retirement plans d. an increase in the proportion of the workforce that belongs to a labor union