According to new Keyneisan theory, real wages are _____ correlated with employment and the portion of the population that is not in the labor market _____ with higher real wages
a. positively; rises.
b. negatively, does not change.
c. negatively, rises.
d. positively; falls.
e. none of the above.
B
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At any given time, which factor of production is NOT fixed?
A) labor B) technology C) entrepreneurship D) land E) money
If the demand curve a monopolist faces is perfectly elastic, then the ratio of the firm's price to the marginal cost is
A) 0. B) 1. C) 2. D) None of the above—the answer cannot be determined.
A firm's capital is measured as a ________ while investment in new capital is measured as a ________.
A. stock; flow B. flow; stock C. physical amount; dollar value D. stock; change
Which of the following could explain a decrease in the demand for labor in a particular job?
a. additional training that increases the productivity of each unit of labor in this market b. an increase in the amount of risk associated with this job c. a decrease in the amount of risk associated with this job d. an improvement in the working conditions associated with this job e. a decrease in the productivity of each unit of labor in this market