If the number of potential workers in an economy increases while the size of the labor force remains unchanged, ________
A) the labor force participation rate will fall
B) the labor force participation rate will remain unaffected
C) the labor force participation rate will increase
D) the natural rate of unemployment will increase
A
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Use the above figure. The total cost earned by this monopolistically competitive firm is
A) $2,080. B) $3,150. C) $1,600. D) $1,900.
The difference between the value of a product at the end of one stage of production and the cost of materials purchased from other firms at the beginning of this stage is the
A. value added. B. net input cost. C. production profit. D. gross input cost. E. value of the intermediate product
Which of the following would most likely cause the production possibilities curve for breadfruit and fish to shift outward from AA to BB in Figure 2-2?
a. a decrease in the labor force of the country b. a sudden change in consumer preferences for more fish and less breadfruit c. a major technological advance d. a decrease in the capital stock
The MRP of labor will shift to the right if
A) labor productivity increases. B) labor productivity decreases. C) wages increase. D) wages decrease.