An economic variable that is measured per unit of time, such as spending per year, is known as a:
a. stock variable
b. periodic variable.
c. dummy variable.
d. flow variable.
e. controlled variable.
d
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A long-term mismatch between the skills of some workers and the jobs available is a principal cause of ________ unemployment.
A. structural B. cyclical C. frictional D. global
A temporary beneficial productivity shock would
A) shift the labor supply curve down and to the right. B) increase the level of employment. C) increase future income. D) increase the expected future marginal product of capital.
Average propensity to consume (APC) equals
A. change in real disposable income divided by change in planned consumption. B. change in planned consumption divided by change in real disposable income. C. real disposable income divided by planned consumption. D. planned consumption divided by real disposable income.
A plant uses machinery and waste water to produce steel. The owner of the plant wants to maintain an output of 10,000 tons a day, even though the government has just imposed a $100 per gallon tax on using waste water
The reduction in the amount of waste water that results from the imposition of this tax depends on A) the amount of waste water used before the tax was imposed. B) the cost to the firm of using waste water before the tax was put in place. C) the rental rate of machinery. D) the marginal product of waste water only. E) the ratio of the marginal product of waste water to the marginal product of machinery.