Suppose the official unemployment rate is 10 percent. We can conclude without question that
1 out of every 10 people in the civilian labor force is currently unemployed
You might also like to view...
Describe how the Fed uses open market operations to change short-term and long-term interest rates
What will be an ideal response?
Industrial policies are:
A. favorable tax policies to encourage private domestic investment in certain industries. B. favorable trade policies to encourage private investment in certain industries. C. government investments in certain industries to encourage growth in those industries. D. All of these are true.
Which of the following is not true about the wage level in a bilateral monopoly?
A. It is determined by supply and demand. B. It is below the wage where the marginal factor cost curve intersects the labor demand curve. C. It is above the wage level where the marginal wage intersects the labor supply curve. D. It is determined by negotiation.
Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour by hand, while Tom's experience allows him to debone 60 chicken breasts per hour by hand. Ted buys one new machine that can debone 100 chicken breasts per hour. Both Mike and Tom work the same 40 hours per week, but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand. To obtain maximum average hourly productivity, ________ is assigned to use the machine and their combined average hourly productivity as a team is ________ chicken breasts
A. Mike; 80 B. Mike; 65 C. Tom; 80 D. Tom; 65