The primary factor leading to cyclical unemployment is when
A) businesses often discriminate in their hiring practices on the basis of age, sex, and race.
B) the level of overall economic activity fluctuates.
C) workers quit their jobs in order to look for higher paying employment.
D) some workers do not have marketable job skills.
B
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The buyers of a good will want to purchase it as long as their willingness to pay for the good is:
A) equal to zero. B) greater than zero. C) less than the price. D) greater than or equal to the price.
Refer to the table above. What is the average total cost of producing 160 units of the good?
A) $0.50 B) $0.93 C) $1.44 D) $2
The current price of concert t-shirts is $20 each, and the company has been selling 400 per week. If price elasticity is 2.5 and the price changes to $21, how many t-shirts will be sold per week?
What will be an ideal response?
Normative economic statements refer to what should be
a. True b. False