The use of automated teller machines (ATMs) has caused some bank tellers to lose their jobs. This is an example of
A. cyclical unemployment.
B. seasonal unemployment.
C. frictional unemployment.
D. structural unemployment.
Answer: D
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Physical capital differences across countries can be seen in the fact that
A) more advanced economies typically have more sophisticated technology. B) the iPhone's components are produced in 30 countries. C) furniture factories in China use machines like those in North Carolina. D) students in India study the same subjects as those in the United States. E) advanced economies produce 53 percent of the world's income.
The amount of a tax paid by the buyers will be smaller the
A) more elastic the demand and the more inelastic the supply. B) more inelastic the demand and the more elastic the supply. C) more inelastic are both the supply and demand. D) more elastic are both the supply and demand.
The payment received by suppliers of entrepreneurial skills is called rent
Indicate whether the statement is true or false
Refer to the table below. If at the current advertising level, A = $9,800, B = $15,200, and C = $8,000, to maximize profit, which of the following should the firm do?
The table above shows the current costs for a firm to advertising on the radio, television, and newspaper.
A) The firm should decrease its advertising on the radio and increase its advertising in newspapers.
B) The firm should decrease its advertising on the television and increase its advertising in newspapers.
C) The firm should increase its advertising on the television and decrease its advertising in newspapers.
D) The firm should decrease its advertising on the radio and increase its advertising on television.