Which of the following groups of people are members of the labor force?
a. People in prison.
b. Full-time students.
c. People over 16 years of age who are employed.
d. Anyone not actively looking for work during the past 30 days.
c
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If the price in Japan of a U.S. dollar becomes a larger number of yen, the U.S. dollar has ________. The yen has ________ because it buys ________ dollars
A) depreciated; appreciated; more B) appreciated; depreciated; more C) appreciated; appreciated; fewer D) appreciated; depreciated; fewer E) appreciated; appreciated; more
Refer to the scenario above. If both the firms are optimizing, which of the following statements is true?
A) Firm B will produce more than Firm A. B) Firm A will produce more than Firm B. C) Both firms will produce the same quantity. D) The quantity produced by both firms will depend on the demand for pens and not the marginal costs.
Imagine that the economy is at a point on the DD-AA schedule that is above both AA and DD and where both the output and asset markets are out of equilibrium. Explain what will happen next?
What will be an ideal response?
At any given point on the curve, the slope of the total product curve always equals
A) the ratio of the marginal product and the average product. B) the change in input divided by the change in output. C) the average product of the input. D) the marginal product of the input.