The typical short-run production function is incapable of distinguishing among the different types of labor that might be hired by the firm
Indicate whether the statement is true or false
FALSE
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Which of the following statements best describes consumer confidence as measured by the consumer confidence index, from just prior to the Great Recession until late 2008.
a. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. b. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. c. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980. d. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.
Using the multiplier effect, if the government increases purchases on transportation equipment by $5 billion, which of the following is the most likely change in total purchases?
a. an increase of $5 billion b. an increase of $15 billion c. a decrease of $5 billion d. a decrease of $15 billion
A derivative instrument:
A. is a low-risk financial instrument used by highly risk-averse savers. B. gets its value and payoff from the performance of the underlying instrument. C. should be purchased prior to purchasing the underlying security. D. comes into existence after the underlying instrument is in default.
When an employer that controls the demand for labor opposes a union that controls the supply of labor, it is called a ________________.
Fill in the blank(s) with the appropriate word(s).