How much do outputs increase when labor and capital increase from 1 to 2 units for the following production function , q = 10L0.5K0.3?
A) 7.4 units.
B) 7 units.
C) 8 units.
D) None of the above.
A
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Which of the following is not in the index of leading economic indicators?
A) Average workweek B) Initial unemployment claims C) Building permits D) Producer price index
During the 1960s, U.S. steel firms argued they needed tariff protection because Germany and Japan were using new mills to make steel since their old mills were destroyed in World War II. Essentially, this argument is a form of the
A) infant-industry argument. B) anti-dumping argument. C) countering foreign subsidies argument. D) national defense argument.
According to the adaptive expectations hypothesis, people will
a. anticipate that what has happened in the immediate past will continue. b. systematically overestimate inflation when inflation is increasing. c. use all available information, including information on the expected impact of economic policy, when they formulate expectations about economic events. d. systematically underestimate inflation when inflation is declining.
The most commonly used negative incentive used by firms is:
A. temporary layoffs. B. dismissal. C. verbal reprimands. D. unpaid suspensions.