In one day Madison Laundry washed 4,000 pounds of laundry with 5 workers who each worked 8 hours. What was its productivity?
a. 4000 pounds of laundry
b. 500 pounds of laundry per hour
c. 100 pounds of laundry per hour
d. None of the above is correct.
c
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If the cyclical rate of employment equals -1 percent and the actual rate of unemployment equals 8 percent, then the natural rate of unemployment must equal:
A. 7 percent. B. 12.5 percent. C. 9 percent. D. -7 percent.
According to the U.S. Bureau of Labor Statistics, the term “employed” includes all full time workers and part-time workers.
Answer the following statement true (T) or false (F)
Suppose that the price of macaroni rises. Quantity supplied will ________ and producer surplus will ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease
Deregulation of the railroad industry led to
A. Reconfigured routes and services. B. Increased operating costs. C. Decreased competition. D. Lower profits.