A firm's _______ summarizes all of its possible methods of producing its output.
A. production technology
B. efficient production frontier
C. production function
D. production possibilities curve
A. production technology
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An effective minimum wage tends to
A) increase the supply of unskilled labor. B) decrease the demand for unskilled labor. C) create a surplus of unskilled labor. D) accomplish all of the above. E) accomplish none of the above.
Which of the following is exempt from taxation (a tax exemption)?
a. interest on a home mortgage b. interest from municipal bonds c. rent d. property taxes
On which of the following types of unemployment do macroeconomic tools have the greatest effect?
a. Structural unemployment. b. Cyclical unemployment. c. All the above. d. None of the above e. Frictional unemployment
Table 9.1 represents 3 markets for used computers. Which of the markets in Table 9.1 are in equilibrium?
A. 1 only B. 2 only C. 3 only D. 2 and 3