Which one of the following people is structurally unemployed?
A) a Saskatchewan welder who lost her job when her company relocated to B. C. and is currently looking for
a job
B) a Nova Scotia fishery worker who is searching for a better job closer to home
C) an office worker who has lost her job because of a general slowdown in economic activity
D) a steel worker who is laid off but who expects to be called back soon
E) none of the above
A) a Saskatchewan welder who lost her job when her company relocated to B. C. and is currently looking for
a job
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Explain the difference between diminishing returns to labor and diminishing marginal returns to labor
What will be an ideal response?
Which of the following items is likely to have the highest income elasticity of demand?
A) water B) a hamburger C) a luxury cruise to several European countries D) breakfast cereal
Primary reserves and secondary reserves
A. are identical. B. are nearly identical. C. have some overlap. D. have completely different components.
Suppose a consumer's expected utility function given two possible states of nature A and B can be expressed in terms of consumption of food, F, in both states as U(FA, FB) = [0.6 × ln(FA)] + [0.4 × ln(FB)]. For this utility function, MUA is (0.6/FA) and MUB is (0.4/FB). Without insurance, the consumer can consume 200 in state A but only 50 in state B. The consumer can purchase insurance at a premium of 50 cents per dollar of benefit. Which of the following gives her budget line?
A. FA = 250 - FB B. FB = 250 - FA C. FA = 200 - FB D. FB = 50 - FA