Based on the production and revenue data in the above table, if the wage rate is $35 per worker, how many workers will be hired?
A) 5
B) 4
C) 3
D) 2
B
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The rate of inflation increases when
A) the unemployment rate equals the NAIRU. B) the unemployment rate exceeds the NAIRU. C) the unemployment rate is less than the NAIRU. D) the unemployment rate increases faster than the NAIRU increases.
At the efficient level of pollution, the:
a. total social costs and total social benefits of reduction are equal. b. marginal social costs and marginal social benefits are equal. c. marginal private costs and marginal private benefits are equal. d. total private costs and total private benefits are equal.
In a dynamic economy under ideal conditions,
a. the unemployment rate should be near zero. b. some unemployment would be present due to workers temporarily being out of work while changing jobs. c. unemployment would tend to move upward slightly as prices increased. d. unemployment would tend to move slightly downward as unemployment compensation benefits increased.
Voluntary migration of skilled craftworkers from low-paying to high-paying nations is most likely to be opposed by:
A. business groups in the high-paying nations. B. craft workers who stay in the low-paying nations. C. industrial unions in the high-paying nations. D. craft unions in the high-paying nations.