One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women.
Answer the following statement true (T) or false (F)
True
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A tariff is a tax
A) on an exported good. B) on an imported good. C) imposed on all traded goods. D) imposed on people's income. E) imposed on the difference between the value of the goods a firm imports and the value of the goods it exports.
For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, output will be
A) 4 units per year and the price will be $6. B) 4 units per year and the price will be $4. C) 6 units per year and the price will be $4. D) None of the above answers is correct.
A firm's long-run average cost curve
A) shows the lowest attainable average total cost of producing any level of output when the plant and labor are fixed. B) is the sum of all of its short-run average cost curves. C) tells the firm which plant size to use and which quantity of labor to use to minimize the cost of producing any level of output. D) all of the above
Human capital refers to which of the following?
A) the quantity of goods and services that can be produced by one worker or by one hour of work B) the accumulated knowledge and skills workers acquire from education and training or from their life experiences C) manufactured goods that are used to produce other goods and services D) physical equipment that is made by human laborers, not machines