Labor productivity increases if i. human capital decreases. ii. technology advances. iii. quality of education decreases
A) i only
B) ii only
C) iii only
D) Both i and ii
E) Both ii and iii
B
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In an economy, 43 million people are employed, 3 million are unemployed, and 4 million are not in the labor force. What is the employment-to-population ratio?
A) 86 percent B) 92 percent C) 93 percent D) 6.5 percent
The cross-price elasticity of demand for coffee and coffee-cream is likely to be
A) greater than zero. B) less than zero. C) zero. D) infinity.
An explanatory forecasting technique in which the analyst must select independent variables that help determine the dependent variable is called
A) exponential smoothing. B) regression analysis. C) trend analysis. D) moving average method.
_____ determine the efficient pattern of specialization in production
a. Total costs b. Opportunity costs c. Marginal costs d. Sunk costs