Don worked as a machinist all his life, and was recently laid off because his plant closed and the jobs were outsourced to India. There don't seem to be any machinist jobs in the area anymore. Don would be considered:
A. Don is a discouraged worker.
B. frictionally unemployed.
C. structurally unemployed.
D. real-wage unemployed.
Answer: C
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Refer to Table 11.1. What is the value of the marginal propensity to consume?
A) 0.15 B) 0.6 C) 0.75 D) 0.9
Suppose a roll of paper towels costs $5 at Sam's Quick Stop, a local quick stop, and the same roll of paper towels costs $2 at Big Supplies, a large, retailer located in a more remote location. If a customer's total cost of travel to Sam's Quick Stop is $2 and is $6 to Big Supplies, which of the following is true?
A) The consumer is indifferent as to where they buy the paper towels. B) It is cheaper for the consumer to buy the paper towels at Sam's Quick Stop. C) It is cheaper for the consumer to buy the paper towels at Big Supplies. D) It is more expensive for the consumer to buy the paper towels at Sam's Quick Stop.
The fact that the United States has grown _______ per year for the last hundred years is ______________.
A. 1 %; alarming and needs to be altered B. 2 %; alarming and needs to be altered C. 2 %; impressive and hopefully will continue D. 3 %; impressive and hopefully will continue
If price is above average total cost at the output where marginal revenue equals marginal cost, a firm will earn positive economic profits.
Answer the following statement true (T) or false (F)