Which of the following statements is true?
A) The wages expected by potential workers are independent of their work experience.
B) Some people seeking paid jobs may not be able to find employment.
C) The wages expected by potential workers are independent of their educational qualifications.
D) All people seeking paid jobs are eventually employed.
B
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In a second-price sealed-bid auction, the ________ bidder wins the item
A) second-highest B) highest C) first D) lowest
National output and national income are the same because
A) one seller's profit is another seller's loss. B) one seller's profit is another buyer's loss. C) the sale of goods and services generates income for the sellers. D) the sale of goods and services generates tax revenues for the government.
How has the pattern of fluctuations in overall U.S. business activity changed since World War II?
A) It has become less volatile. B) Expansions have been eliminated. C) Contractions have been eliminated. D) Recessions have been eliminated.
To find a firm's total revenue at every quantity, all you need to know is
a. the demand curve for its product. b. the demand curve for its product and its total cost. c. its profit-maximizing price and quantity. d. its total profit curve.