In the above figure, at the firm's profit maximizing output, total revenue is rectangle
A) 0P1AQ1.
B) 0P3FQ3.
C) 0P5EQ5.
D) 0P2BQ1.
A
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The Bureau of Labor Statistics counts as employed people who work part-time, but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed
Explain how the unemployment rate and the labor force participation rate would change.
An advantage of the establishment survey over the household survey of the labor market is that the establishment survey
A) includes the number of self-employed persons. B) provides an estimate of the number of persons unemployed. C) is based on actual payrolls, rather than on unverified answers. D) includes persons employed at newly opened firms.
An increase in autonomous investment in a small open economy will cause ________
A) a trade surplus to shrink B) a trade deficit to increase C) lower net capital outflows D) all of the above E) none of the above
Which statement is true?
A. OPEC produces and exports over 90 percent of the world's oil. B. Saudi Arabia is the most important member of OPEC. C. OPEC has no influence over the price of oil. D. The U.S. imports only a tiny fraction of the oil it uses.