What is a result of unemployment that is very low?
What will be an ideal response?
Answer: Companies have difficulties recruiting workers.
You might also like to view...
Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same
Also, suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. In this case, the Coase theorem predicts that A) Dudley will pay Angus to not play the bagpipes. B) Angus will pay Dudley so Angus can play the bagpipes. C) Dudley will do nothing and Angus will mop floors. D) no bargain can be reached between Angus and Dudley.
Explain how the labor force participation rate and the unemployment rate change in a recession
What will be an ideal response?
Figure 10-6
In Figure 10-6, which graph best illustrates the effect of the beginning of the Iraq war in 2003?
a.
(1)
b.
(2)
c.
(3)
d.
(4)
Refer to the following figure. The price of capital is $50 per unit:
The minimum cost of producing 800 units of output is
A. $10,000. B. $8,000. C. $7,500. D. $6,000.