During times of recession, the labor force participation rate typically:
A. rises, as more people need work.
B. rises, as more incomes per household are needed to make ends meet.
C. falls, as more people give up and stop looking for work.
D. falls, as more people cannot find work, they stay in jobs that aren't a good fit.
C. falls, as more people give up and stop looking for work.
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The U.S. federal income-tax structure is designed so that
a. all citizens pay a flat marginal tax rate. b. the marginal tax rate generally rises with income. c. the average tax rate falls as income rises. d. all citizens pay a flat average tax rate.
An increase in total revenue will result if
A) demand is inelastic and price increases. B) demand is elastic and price increases. C) demand is inelastic and price decreases. D) demand is unitary elastic and price decreases.
If the price is so high that vendors find too many unsold bottles remaining in inventory, they might dispose of their excess inventory by
A. creating a surplus. B. lowering the price per bottle. C. raising the price per bottle. D. closing early.
Refer to the information. The average fixed cost of 3 units of output is:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.
A. $13.33.
B. $12.50.
C. $40.
D. $18.50.