Bo's actions would
A) have no impact on the September unemployment rate or the October unemployment rate.
B) raise the September unemployment rate and lower the October unemployment rate.
C) raise the September unemployment rate and not change the October unemployment rate.
D) classify him as out of the labor force in September.
E) raise the September unemployment rate and the October unemployment rate.
B
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According to new Keyneisan theory, real wages are _____ correlated with employment and the portion of the population that is not in the labor market _____ with higher real wages
a. positively; rises. b. negatively, does not change. c. negatively, rises. d. positively; falls. e. none of the above.
An important contributor to rising U.S. health care costs in recent years is
A) less interest on the part of Americans to stay physically fit. B) the increasing proportion of the population that smokes. C) an easing of standards at medical schools that has permitted unqualified people to become physicians. D) the aging of the population.
Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. If the terms of trade are established as 1 ton of apples for 4 tons of oranges: a. there are no incentives
for Omega to engage in international specialization and trade with Alpha. b. it is in the interest of Omega to grow oranges and trade for apples. c. it is in the interest of both countries to specialize and trade with one another. d. there are no incentives for Alpha or Omega to specialize and trade with one another.
For a particular competitive firm, the minimum value of average variable cost (AVC) is $12 and is reached when 200 units of output are produced. For the same firm, the minimum value of average total cost (ATC) is $15 and is reached when 230 units of output are produced. Which of the following statements is correct?
a. In the short run, the firm will shut down if the price of its product is $14. b. In the long run, the firm will shut down if the price of its product is $11. c. For this firm, the minimum value of variable cost (VC) is $2,400. d. If the firm's fixed cost (FC) amounts to $500, then the firm cannot earn a positive profit unless the price of its product exceeds $16.