Which of the following variables can be used to measure labor productivity?
A. number of workers
B. number of labor hours
C. real GDP
D. all of these
Answer: D
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The magnitude of the slope of the budget line
A) is defined as marginal rate of substitution. B) equals the relative price of the good measured along the horizontal axis. C) increases when income increases. D) decreases when income increases.
Describe the holdout problem with emphasis on how it might lead to resource being allocated inefficiently. Give three private ways to possibly overcome the holdout problem
What will be an ideal response?
Which of the following would not be considered a signal for a job as a public relations representative?
a. the number of minutes the candidate is allotted in the interview b. a high grade point average c. the suit the candidate wears to an interview d. the reputation of the college the candidate attended e. past salary history
A combination of inflation and recession is called:
A. deflation. B. stagflation. C. infusion. D. disinflation.