A country's labor demand curve shifted to the right after the adoption of a new technology. This implies that the use of the new technology ________, assuming all else equal
A) reduced the marginal product of labor
B) lowered the minimum wage that firms need to pay
C) increased the minimum wage that firms need to pay
D) increased the marginal product of labor
D
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Which of the following groups of people would be included in the official unemployment rate?
a. part-time workers b. workers temporarily laid off from jobs to which they expect to return c. discouraged workers d. all of the above
The program Save More Tomorrow (SMarT) is:
A. an experimental "forced savings" program. B. a voluntary savings program that commits a fraction of future raises to be put directly into savings. C. a voluntary savings program that involves people learning how to find high-interest accounts so their savings is worth more tomorrow. D. the "forced savings" program in Italy.
In this graph, which of the following accurately describes the point where the ATC curves touches the demand curve?
a. The long-term price equals the average total cost at the equilibrium quantity.
b. The short-term price equals the average total cost at the profit quantity.
c. The long-term price equals the marginal cost at the equilibrium quantity.
d. The short-term price equals the marginal total cost at the profit quantity.
A key objective of the gold standard was to
A) create a flexible exchange rate system between countries. B) create a fixed exchange rate system between countries. C) allow nations to maintain their gold reserves. D) allow nations to tax its citizens in gold.