If High Tech, a computer manufacturer, has a contract with Big Chips, a computer chip manufacturer, to produce the computer chips needed for High Tech's computers, this is an example of ________.
A) forward integration
B) outsourcing
C) divestiture
D) backward integration
B) outsourcing
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Cyclical unemployment is primarily caused by
a. a large proportion of youthful workers in the labor force. b. fluctuations in aggregate demand. c. a lack of training on the part of job seekers. d. the failure of job seekers to search adequately for the available jobs.
The marginal productivity principle says that a profit-maximizing firm should
a. hire capital until its marginal product is zero. b. hire labor until another worker costs more to hire than he can earn for the firm. c. hire the quantities of capital and of labor at which their marginal products are equal. d. hire capital until its marginal product is negative.
In conducting their research, economists face an obstacle that not all scientists face; specifically, in economics, it is often impractical to
a. make use of theory and observation. b. rely upon the scientific method. c. conduct laboratory experiments. d. find articles or books that were written before 1900.
The tax cuts passed by Congress in 2003 to help move the economy more rapidly toward potential GDP are an example of...
What will be an ideal response?