To find its profit-maximizing output level, a firm should operate where
A. AVC = MC.
B. MC = MR.
C. TFC = TVC.
D. AFC = AVC.
Answer: B
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If you believe that government intervention to achieve full employment without inflation can be effective, you are a member in good standing in the
a. Phillips school b. classical school c. Keynesian school d. neo-Keynesian school e. rational expectations school
When designing public policies, which income group would philosopher John Rawls argue needs the most attention?
a. Individuals located in the bottom fifth of the income distribution. b. Individuals located at the average income level. c. Individuals located in the top fifth of the income distribution. d. Individuals located in the top five percent of the income distribution.
:Employed full-time:4,200Employed part-time: 700Not employed and looking for work: 300Not employed and not looking for work: 200
Given the data in Table 12.1, if the workers who are "not employed and not looking for work" were counted as not employed and in the labor force, the unemployment rate of Metropolis would be approximately:
A. 4 percent. B. 7 percent. C. 9 percent. D. 10 percent.
The services British capital provides in Spain are a service export from Britain
A) therefore they are subtracted from British GDP in calculating British GNP. B) therefore they are added to Spanish GDP in calculating Spanish GDP. C) therefore they are added to British GDP in calculating British GNP. D) therefore they are added to Spanish GNP in calculating Spanish GDP. E) therefore they are subtracted from Spanish GNP.