The labor force includes individuals who are: I. Employed II. Unemployed III. Discouraged workers
A) I only
B) Both I and II
C) Both I and III
D) All I, II and III
B
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A monopolistically competitive firm is operating at a short-run level of output where price is $21, average total cost is $15, marginal cost is $13, and marginal revenue is $13. In the short run this firm should
A. increase the level of output. B. decrease the level of output. C. make no change in the level of output. D. reduce product price.
Results of research conducted regarding the Moving to Opportunity program found that
A) living in a good neighborhood helps keep people out of jail. B) people who live in wealthier neighborhoods are safer than people who live in poorer neighborhoods. C) living in a good neighborhood improves test scores in schools. D) living in a good neighborhood guarantees economic self-sufficiency.
The term capital budgeting refers to decisions
A) which are made in the short run. B) which concern the spreading of expenditures over a period lasting less than one year. C) where expenditures and receipts for a particular undertaking will continue over a relatively long period of time. D) where a receipt of cash will occur simultaneously with an outflow of cash.
Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000 . What is her expected wealth?
a. 80,000 b. $87,000 c. $97,000 d. $99,000