Of the following groups, who is eligible for unemployment insurance benefits?
a. the unemployed who quit their jobs
b. the unemployed who were laid off because their previous employers no longer needed their skills
c. the unemployed who were fired for cause
d. the unemployed who just entered the labor force
b
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Refer to the table above. Once trade begins, a possible international price (i.e. terms of trade) for textiles in terms of grapes is
A) $5. B) 2/5. C) 2. D) 4/5.
Over time, GDP may increase as the result of either (i) expansion in the quantities of goods produced or (ii) higher prices. Which of the following is true
What will be an ideal response?
The production possibility curve (PPC) shows the ________ production of one good for ________ production level of the other good.
A. maximum; the minimum B. minimum; every possible C. maximum; every possible D. minimum; the maximum
A firm is currently operating where the MC of the last unit produced = $64, and the MR of this unit = $70. What would you advise this firm to do?
A. Shut down. B. Increase output. C. Stay at current output. D. Decrease output.