Using the information in the above table, the unemployment rate is
A) 4.5 percent.
B) 4.3 percent.
C) 2.8 percent.
D) 6.0 percent.
B
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What does it mean for a firm to be a price taker in the labor market?
What will be an ideal response?
Developments in the computer software industry have made it extremely easy for firms to keep their books, conduct their own audits, and fill out the various tax forms. If accountants are an input in the accounting services industry, what will likely happen in the market for accountants? Is there a difference between the short run and the long run?
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion. Thus:
A. the demand for peanuts is elastic. B. the demand for peanuts is inelastic. C. the demand curve for peanuts has shifted to the right. D. no inference can be made as to the elasticity of demand for peanuts.
What is an oligopoly? Give two examples of oligopolistic industries in the United States
What will be an ideal response?