Which of the following is the formula for the marginal product of labor?
A. F(L) - F(L - ?L)
B. F(L)/L
C. F(L)/?L
D. [F(L) - F(L - ?L)]/?L
D. [F(L) - F(L - ?L)]/?L
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The condition, MRSC,C' = 1 + r, describes the representative consumer's
A) investment decision. B) consumption - savings decision. C) current period work - leisure decision. D) future period work - leisure decision.
If the APS is -0.4, the APC is
A. -0.4. B. 0. C. 0.6. D. 1.4.
Suppose statistical surveys indicate that new orders for manufactured goods and new building permits for single-family homes are declining and that business inventories are rising. This implies economic activity is slowing down and the economy is potentially entering a recessionary period
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of structural unemployment?
A. Alan, a software engineer, lost his job when the internet startup he worked for went bankrupt. He interviewed with five companies in the area before taking a job with another firm in the industry. B. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. C. Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up. D. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year.