In an Israeli factory, each worker can produce 2/5 of a shirt in an hour or 1/4 of a pair of pants in an hour. If there are 500 workers in the factory, then the maximum number of pairs of pants that can be made in an hour is
a. 120
b. 250
c. 75
d. 350
e. 300
B
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A government regulation making it very difficult to fire workers will have what effect in the labor market?
a. Demand for workers will decrease. b. The number of people hired will increase. c. There will be no effect on the labor market. d. Companies will fire more people.
Stabilization policy often faces a trade-off between inflation and unemployment
a. True b. False Indicate whether the statement is true or false
If the price of a product increases, we would expect:
A. supply to decrease. B. quantity supplied to increase. C. demand to decrease. D. quantity demanded to increase.
Which of the following is considered a service in the calculation of GDP?
A. Tax preparation. B. Manufacturing automobiles. C. Constructing new homes. D. Manufacturing reclining chairs.