Countries that have greater employment protection laws than other countries generally have ________ unemployment rates, with spells of unemployment tending to ________
A) lower; last longer
B) lower; be shorter
C) higher; last longer
D) higher; be shorter
C
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The real minimum wage rate
A) has generally decreased during the 1970s and 1980s and has fluctuated around a $6.50 per hour average since the mid-1980s. B) has stayed in the range between $6 and $5 (measured in 2009 dollars per hour) since 1967. C) fell after 1967 until it reached a minimum around 1985 and has generally risen since then. D) was at its highest level in 1995. E) has generally increased since 1967.
Purchasing goods such that the ratio of marginal utility to price is equal across all goods results in the:
A. same expenditure on all goods. B. greatest marginal utility. C. lowest expenditure. D. greatest total utility.
Refer to the graph below. All of the following development would allow a movement from point C to a point outside the production possibilities curve, except:
A. An increase in the supply of resource
B. An improvement in the quality of resources
C. A reduction in unemployment of resources
D. A technological advance
Total profit is always maximized when __________ equals ____________.
Fill in the blank(s) with the appropriate word(s).