In the circular flow model, money flows from the business sector to the household sector through the:
a. product market.
b. capital market.
c. goods market.
d. services market.
e. resource market.
e
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Refer to Table 17-6. The Hair Cuttery, a new hair salon, is ready to start hiring. The table above shows the relationship between the number of hairdressers the firm hires and the quantity of haircuts it produces
a. Suppose the price of haircuts is $8. Complete the table by filling in the values for marginal product and marginal revenue product. b. The Hair Cuttery is an input price-taker. Suppose the wage paid to hairdressers is $40 per day. What is the profit-maximizing number of hairdressers? c. Suppose the wage rate rises to $60 per day. (i) What happens to the firm's demand curve for hairdressers? (ii) What happens to the profit-maximizing quantity of hairdressers? d. Suppose the wage rate is $40 per day and the price of haircuts is now $10. (i) What happens to the firm's demand curve for hairdressers? (ii) What happens to the profit-maximizing quantity of hairdressers?
Owners face unlimited liability in
A) national corporations and global corporations. B) partnerships and corporations. C) proprietorships and corporations. D) proprietorships and partnerships.
____ experience higher rates of unemployment than do ____
a. Teenagers; adults b. Adult males; adult females c. Skilled workers; unskilled workers d. White males; Hispanic males
Aggregate supply tends to grow because
a. there are more workers in the economy every year. b. there is more capital in the economy every year. c. technology tends to improve every year. d. All of the above are correct.