If a firm is inundated by qualified applicants when it advertises a job opening and the firm's quit rate is unusually low, then the firm is probably paying
A. each worker its marginal revenue product.
B. above the market wage.
C. the market wage.
D. below the market wage.
Answer: B
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New growth theory claims that economic growth occurs because firms reap profits from research and add to the stock of capital
Indicate whether the statement is true or false
The phenomenon in which an insured individual takes less care in preventing the event against which she is insured is an example of
A) foolish behavior. B) adverse selection. C) moral hazard. D) double coincidence of wants.
A steel mill raises the price of steel by 20%, which results in a 7% reduction in the quantity of steel demanded. The demand curve facing this firm is: a. elastic
b. inelastic. c. unit elastic. d. unit inelastic.
QN=75 (17802) Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been selected as the base year. In 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $54.60. The value of the CPI in 2004 was
a. 96.2. b. 102.0. c. 104.0. d. 152.0.