If you observed the wage rate decreasing while employment increased, which of the following would be a possible explanation?
a. A decrease in labor demand
b. A decrease in labor demand coupled with a decrease in labor supply
c. An increase in labor supply
d. A decrease in labor supply
e. It is not possible for the wage rate to decrease while employment is increasing
C
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A firm's value added can be measured as the value of its
A) profits. B) total sales. C) total sales, less purchases from other firms. D) purchases of inputs from other firms.
The domestic currency will ________ with a(n) ________ in the foreign interest rate
A) depreciate; increase B) appreciate; increase C) depreciate; decrease D) appreciate; decrease
A depression can be defined as: a. a mild reduction in total production coupled with a rising unemployment rate that lasts for several years. b. a mild decline in total production that lasts less than six months
c. a severe fall in stock prices that causes financial panic and lasts for several years. d. a severe reduction in total production coupled with high unemployment that lasts for several years. e. a decline in government spending and taxes that lasts for several months.
Define the following terms and explain their importance to the study of economics. a. Principle of marginal productivity b. Marginal physical product c. Marginal revenue product d. Derived demand e. Economic rent
What will be an ideal response?