An American tourist in the Netherlands buys tulips from a local producer. This is an example of a(n) ________ by the tourist
A) transfer payment B) import
C) export D) foreign direct investment
B
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Labor productivity equals
A) the total production of labor. B) real GDP. C) real GDP divided by the amount of human capital. D) real GDP per hour of labor. E) the quantity of labor hours divided by real GDP.
Because skills are costly to obtain, at a given wage rate, the
A) quantity demanded of high-skilled labor is less than the quantity demanded of low-skilled labor. B) quantity demanded of high-skilled labor is greater than the quantity demanded of low-skilled labor. C) quantity supplied of high-skilled labor is less than the quantity supplied of low-skilled labor. D) quantity supplied of high-skilled labor is greater than the quantity supplier of low-skilled labor.
Which of the following is a requirement for the Bureau of Labor Statistics to place someone in the "unemployed" category?
a. The person must have worked no more than 10 hours during the past week.. b. The person must have tried to find employment during the previous four weeks. c. The person may not have been laid off. d. All of the above are correct.
A firm that must determine the price-output combination that maximizes profit because it faces a downward-sloped demand curve
A) has a perfectly elastic demand curve. B) has a perfectly inelastic demand curve. C) is a price-taker. D) is a price searcher.