Over time, an increase in the real output and incomes of the trading partners of the United States will most likely:
A. Increase U.S. exports
B. Decrease U.S. exports
C. Increase imports of the U.S.
D. Decrease imports of the U.S.
A. Increase U.S. exports
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The above table shows data on two variables. If these data were graphed, the slope of the line would be
A) 3/5. B) 3. C) 5/3. D) impossible to determine from the information given.
Which of the following is NOT considered to be in the labor force?
A) a student who works part-time B) a person who is not working but who has tried to find a job in the past week C) a person who is waiting to start a new job in the next 30 days D) a person who is not working and who has not tried to find a job
A firm can maximize profit by hiring labor up to the point where
a. the marginal revenue product equals the wage rate b. the marginal product equals marginal cost c. total revenue equals total cost d. the marginal revenue product equals marginal product e. the marginal revenue product is zero
Economic models are often expressed in
a. equations. b. words. c. graphs. d. physical objects..