The Bureau of Labor Statistics (BLS) calculates the unemployment rate by dividing the number of unemployed workers by the total number of workers
Indicate whether the statement is true or false
F
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Which of the following is not a characteristic of indifference curves?
A. They are negatively sloped. B. They never intersect. C. They are concave toward the origin. D. Combinations of goods that include more of both goods are preferred, on a higher indifference curve.
Which one of the following labor resources will likely have the most inelastic supply schedule in the short run?
a. filling station attendants b. sales clerks c. construction laborers d. dentists
The classical economists espoused
A. the crude version of the quantity theory of money. B. the sophisticated version of the quantity theory of money. C. both the crude and sophisticated quantity theories of money. D. neither the crude nor sophisticated quantity theories of money.
Figure 6.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $40 and the firm is currently producing the profit-maximizing output level, its total variable cost is:
A. $12,500. B. $14,300. C. $19,800. D. $27,000.