In the following graph, the price of labor is $15 per unit. The minimum cost of producing 1,000 units of output is:
A. $1,800
B. $ 150
C. $ 450
D. $ 600
E. none of the above
Answer: E
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A discouraged worker is someone who
A) is not in the labor force. B) is employed. C) has been fired. D) is unemployed.
A liability rule:
A. involves the use of taxes or fees to remedy negative externalities. B. involves the use of subsidies to remedy negative externalities. C. is a legal principle requiring a party who takes an action that harms others to compensate the affected parties for some or all of their losses. D. requires that victims of an externality pay a tax to the producers of the externality.
The primary purpose of the statement of cash flows is to provide information
A. about a company's investing and financing activities during an accounting period. B. regarding a company's financial position at the end of an accounting period. C. about a company's cash receipts and cash payments during an accounting period. D. regarding the results of operations for a period of time.
Which of the following is a labor resource?
A. A computer programmer. B. A computer. C. Silicon (sand) used to make computer chips. D. A piece of software used by a firm.