If the rate of job separation equals 2%, and the natural rate of unemployment is 10%, then the rate of job finding equals
A) 5%.
B) 16.7%.
C) 18%.
D) 20%.
C
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If the production function is Q = K.5L.5 and capital is fixed at 1 unit, then the average product of labor when L = 36 is:
A. 2/3. B. 1/6. C. 1/3. D. None of the answers are correct.
Which of the following is a listing of the types or categories of resources?
A. Land, labor, and capital B. Land, labor, and education C. Land, labor, and efficiency D. Land, labor, and markets E. Land, labor, and inputs
On a graph of the consumption function, where the consumption function crosses the 45 degree line,
A) there is no saving and no dissaving. B) disposable income is zero. C) the maximum level of disposable income is earned. D) there are no tax payments. E) induced consumption equals zero.
Refer to Figure 4-1. Kendra's marginal benefit from consuming the third ice cream cone is
A) $13.00 B) $2.50 C) $1.50 D) $0.50