The nominal wage represents _____
Fill in the blank(s) with the appropriate word(s).
the wage measured in terms of the dollar value of the goods and services a worker can purchase with it.
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Interest rates and investment move in the same direction when demand shifts toward ________-lived equipment, producing a ________ shift in the IS curve
A) shorter, leftward B) shorter, rightward C) longer, leftward D) longer, rightward
Competitive firms decide how much output to sell by producing output until the price of the good equals
a. marginal product. b. the value of marginal product. c. marginal cost. d. marginal profit.
A monopolist has a marginal revenue curve given by MR = 102 - Q, and a total cost curve given by TC = Q2 + 16. The monopolist's profit maximizing price and quantity are ________, ________ respectively.
A. 85; 34 B. 52; 50 C. 77; 50 D. 100; 2
Annabel retired from the fire department. She started volunteering two hours a day at an unpaid job in the local hospital. Annabel is
A. employed. B. unemployed. C. a discouraged worker. D. not in the labor force.