Suppose the population (age 16 and over) of Angola is 100 million; 5 million are unemployed, and 70 million hold jobs. The labor force participation rate in Angola is
a. 5 percent.
b. 65 percent.
c. 70 percent.
d. 75 percent.
D
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Identify whether each of the following transactions will take place in the factor market or in the product market
a. Graciela buys a Tesla Motors Model X. b. Lashan works 60 hours a week at a law firm. c. Tito sells his family's farmland to a housing developer. d. Tesla Motors increases employment at its Fremont, California plant.
With increasing returns to scale, isoquants for unit increases in output become
A) farther and farther apart. B) closer and closer together. C) the same distance apart. D) none of these.
In the regression model Yi = ?0 + ?1Xi + ?2Di + ?3(Xi × Di) + ui, where X is a continuous variable and D is a binary variable, to test that the two regressions are identical, you must use the
A) t-statistic separately for ?2 = 0, ?2 = 0. B) F-statistic for the joint hypothesis that ?0 = 0, ?1 = 0. C) t-statistic separately for ?3 = 0. D) F-statistic for the joint hypothesis that ?2 = 0, ?3= 0.
According to the graph shown, if a firm is producing at Q2, and it is identical to others in the market:
A. profits are not being maximized. B. firms will enter this market. C. economic profits are zero. D. firms will leave this market.