Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $7. What does profit equal when quantity equals 2?
A. $2
B. $16
C. $14
D. -$2
Answer: D
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The downward sloping labor demand curve demonstrates that as the ________ increases the ________ decreases
A) nominal wage; amount of labor supplied B) real wage; amount of labor supplied C) real wage; amount of labor hired D) nominal wage; amount of labor hired
________ is likely to result in an increase in the total efficiency units of labor in an economy
A) A decrease in the capital-labor ratio in the economy B) An increase in the unemployment rate in the economy C) A decrease in the labor force participation rate in the economy D) An increase in the productivity of each worker in the country
If the demand for Home exports decreased abroad, the Home fall in output would be greatest
A) if the decrease was temporary and the exchange rate was fixed. B) if the decrease was temporary and the exchange rate was floating. C) if the decrease was permanent and the exchange rate was fixed. D) if the decrease was permanent and the exchange rate was floating. E) if the decrease was permanent and the exchange rate was high.
David McClelland, a Harvard psychologist, stressed that individuals vary in their need for ________________
a. Achievement, which he called the "n Ach." b. Acceptance c. Success and happiness d. Positive outcomes