The law of increasing opportunity cost is based on the idea that
a. wages tend to increase with the level of employment
b. interest rates tend to rise with increasing inflation
c. labor costs for a typical firm are a large and growing proportion of total cost
d. most resources are better suited to producing some goods than others
e. the less of something we produce, the greater is the opportunity cost of producing still more
D
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More businesses in the United States are organized as partnerships than as proprietorships
Indicate whether the statement is true or false
Between 1994 and 2009, the number of welfare recipients in the U.S.:
a. fell by 71%. b. rose by 71%. c. fell by 18%. d. rose by 66%.
Which of the following statements is false?
A) Discouraged workers are a subset of a larger group termed marginally attached workers. B) Discouraged workers are counted as unemployed in the official unemployment rate calculation. C) A person is considered underemployed if he is working at a job for which his skills far exceed the skills required for his job. D) People who are underemployed are not counted as unemployed.
In a multiple regression model, the coefficients on the independent variables measure
A. the change in that independent variable from a one-unit change in the dependent variable, all other influences held constant. B. the change in the dependent variable from a one-unit change in that independent variable, all other influences held constant. C. the change in the dependent variable explained by the random error, all other influences held constant. D. the percent of the variation in the dependent variable explained by a change in that independent variable, all other influences held constant.