Explain how the following apparently contradictory statement can be true: Most spells of unemployment are short, and most unemployment observed at any given time is long-term
Most people who become unemployed will soon find jobs. Yet most of the economy's unemployment problem is attributable to the relatively few workers who are jobless for long periods of time.
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What are the steps involved in optimization in levels? If option A has a cost of $5 and provides a benefit of $8, and option B has a cost of $10 and provides a benefit of $15, which of the two projects is optimal?
What will be an ideal response?
The average fixed costs of a firm equal
a. implicit costs divided by output. b. explicit costs divided by output. c. total cost minus variable cost. d. (total cost minus variable cost) divided by output.
the largest influence on the Fed's monetary policy actions is
What will be an ideal response?
In the long run, the exit of firms from a perfectly competitive market is caused by
a. a steeper demand curve constraining the firm b. normal profits c. economic losses d. antitrust enforcement e. government policy