Units of CapitalNumber of WorkersOutput/Day50051405290531505420055235
Refer to Table 2.3. The principle of diminishing returns first occurs when how many workers are hired?
A. 2
B. 3
C. 4
D. 5
Answer: C
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Relative to the United States, Europe has
A) higher unemployment. B) slower job growth. C) higher real wage growth. D) A and B. E) all of the above.
From 2005-2008, the unemployment rate in the United States was significantly different from the rates in France, Germany, and Italy
This is often attributed to the idea that the rate of ________ unemployment in these European countries was ________ than it was in the United States. A) frictional; lower B) structural; higher C) cyclical; lower D) seasonal; higher
Which of the following is not generally considered one of the three main causes of the financial crisis of 2007-2009?
A) insufficient regulation of the shadow banking system B) excessive risk taking by commercial banks and other financial intermediaries C) the "too-big-to-fail problem" of large financial firms D) inaction by the Federal Reserve in acting as lender of last resort
Assume the price of beer is $4, the price of pizza is $10 and the consumer's income is $250. Which consumption bundle will NOT be the consumers choice?
A) 5 beers, 5 pizzas B) 0 beers, 25 pizzas C) 25 beers, 15 pizzas D) None of the bundles will be chosen.