Using the table above, the labor participation rate is
A) 67 percent.
B) 48 percent.
C) 75 percent.
D) 83 percent.
E) 40 percent.
C
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The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is $200 and workers cost $10 per hour. The marginal cost per hat of producing 30 hats per hour (instead of 25 ) is
A) $240.00 per hat. B) $250.00 per hat. C) $8.33 per hat. D) $2.00 per hat.
Total product is maximized where
A) average product is maximized. B) marginal product is maximized. C) average product is equal to 0. D) marginal product is equal to 0.
Which of the following might result in an underestimation of GDP?
a. Significant underground activity such as trade in illegal drugs b. Sales of used cars c. Many intermediate goods d. Imported goods e. Exported goods
In reality, reliable information is usually costly for both consumers and producers
Indicate whether the statement is true or false