The labor force participation rate
A) increases as the real wage increases.
B) decreases as the real wage increases.
C) has nothing to do with the real wage rate.
D) increases as the opportunity cost of working increases.
E) is one of the major reasons that firms pay efficiency wages.
A
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The reform movements that began in many Latin American economies in the late 1980s favored
A) competitive devaluations. B) stronger military budgets. C) imports substitution policies. D) a stronger role for markets and more openness. E) more government regulation of industry.
Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. If you make 1,000 t-shirts, your average total cost is ________.
A. $3.10 B. $10.30 C. $3 D. $1.03
The type of advertising used for an experience good is
A. search advertising. B. informational advertising. C. persuasive advertising. D. experience advertising.
Zero economic profits would most likely exist in which market environment?
A) Pure monopoly B) Oligopoly C) Perfect competition D) Any market structure riddled with uncertainty E) None of the above.