An increase in real output (goods and services) is the only explanation for an increase in nominal GDP
Indicate whether the statement is true or false
F
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Based on the production data for Pat's Pizza Parlor in the above table, the average product of labor when 4 workers are hired is ________ pizzas
A) 8 B) 10 C) 11.25 D) 45
Explain the difference between partial equilibrium analysis and general equilibrium analysis
What will be an ideal response?
Opportunistic behavior is best described as a firm
A) gathering as much information as possible before dealing with another entity. B) attempting to make a profit from its dealings with another entity. C) firm trying to take advantage of another entity in its dealings with it. D) selecting another entity to deal with.
Sonia was a great bookkeeper 20 years ago, then left the workforce to stay home and raise her children. Now that they're in college, Sonia looks for another bookkeeping job, but they all require computer skills that she doesn't have. Sonia would be considered:
A. frictionally unemployed. B. seasonally unemployed. C. structurally unemployed. D. Sonia is not in the labor force.