The percentage of the noninstitutionalized working-age individuals who are employed or seeking work is known as
A) the labor force.
B) the labor force participation rate.
C) discouraged worker.
D) the stock of employed and unemployed workers.
B
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As output increases, total fixed cost
a. increases. b. remains constant. c. rises and then falls. d. falls and then rises.
All of the following are strategies a firm with market power can adopt to increase it profits over time except:
A) mergers with, and acquisitions of, competing firms. B) erecting barriers to entry. C) setting price equal to the marginal costs of production. D) influencing the regulatory process.
If a Proposer and a Responder are asked to split $100 in the ultimatum bargaining game, standard economic theory would predict that the Proposer should offer the Responder:
A. the smallest dollar amount possible. B. exactly $25. C. exactly $50. D. the largest dollar amount possible.
Why do credit card companies typically require small minimum payment amounts on their customers' monthly credit card statements?
A. Credit card companies are concerned that their customers will be put in financial distress if required to make higher payments. B. Credit card companies want to promote faster repayment, and customers will be encouraged to pay more each month if they're able to pay well beyond the minimum. C. Credit card companies want to increase profits by promoting slower repayment, and actual customer payments will be anchored by the smaller payment requirements. D. Credit card companies actually charge the highest minimum payment they are allowed by law to charge.