One reason Henry Ford is famous was for instituting:
A. efficiency wages in an effort to reduce worker absenteeism.
B. assembly lines in an effort to reduce worker turnover.
C. minimum wages in an effort to increase productivity.
D. unemployment benefits in response to the first unionized workers.
Answer: A
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If aggregate spending in an economy can be written as Y = 15,000 + 0.6Y - 20,000r, and potential output equals 34,000, what real interest rate must the Federal Reserve set to bring the economy to full employment?
A. 5 percent B. 7 percent C. 3 percent D. 6 percent
For each of the following cost functions, if possible, find minimum AC and minimum AVC
a. TC = 40,000 + 20 Q b. TC = 1000 + 2Q + 0.1 Q2
Compared to perfect competition, a monopoly will produce ________ output, and charge a ________ price
A) more; higher B) more; lower C) less; higher D) less; lower
In 2013, the Lowest Income 60 percent of households had about what percentage of total money income?
a. 23.4% b. 26.0% c. 46.6% d. 60.0%