The optimal hiring rule is to employ labor up to the point where:

A. wage = MFC.
B. wage = MP.
C. wage = MR
D. wage = MRP


Answer: D

Economics

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Lengthening of the average unemployment spell suggests that ________ unemployment is growing in importance

A) frictional B) structural C) cyclical D) turnover

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Assuming a market rate of interest equal to 7 percent and anticipated inflation is 2 percent, what is the real (adjusted for inflation) present value of $200 to be received one year from today?

A) $190 B) $214 C) $187 D) $210

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Refer to the accompanying figure. The total utility of consuming 4 pizzas a week is:

A. 22.5 B. 90 C. 75 D. 15

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