What is always TRUE about the short-run equilibrium position for a firm in perfect competition?
A. MR = MC = P = ATC = AR
B. TR = TC
C. MC = ATC
D. MR = MC = P = AR
Answer: D
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During the recessions of 2001 and 2008-09,
A) all measures of the unemployment rate (U-1 through U-6 ) increased. B) only the broader measures of the unemployment rate increased. C) only the narrower measures of the unemployment rate increased. D) the labor force participation rate for women increased. E) the labor force participation rate for men increased.
Creative destruction is one of the negative effects of market competition
Indicate whether the statement is true or false
Which of the following situations would cause the greatest increase in labor productivity?
A. The increase in the employment rate is greater than the increase in capital. B. The employment rate remains the same and capital decreases. C. The employment rate increases and capital remains the same. D. The increase in capital is greater than the increase in the employment rate.
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are shown in the table, in order for the library to win overall, which items must be voted on first?
A. Library and computer lab B. Gym and library C. Computer lab and gym D. The order will not affect the outcome of the vote.