The labor force includes
A) only the number of people employed.
B) discouraged workers.
C) only the number of people unemployed.
D) both employed and unemployed workers.
D
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Suppose the local newspaper hires students to fold and bag newspapers for delivery and pays them $20 per shift. Five students can fold and bag 300 newspapers per shift. The fourth student added 50 newspapers to total output
The cost of the capital the firm uses is fixed at $50 per shift. a. Is the newspaper operating in the long run or short run? Why? b. What is the average product of 5 students? c. Calculate the total fixed cost, total variable cost, and total costs of folding and bagging 300 newspapers. d. Calculate the average fixed cost, average variable cost, and average total costs of folding and bagging 300 newspapers. e. What is the marginal cost of one of the 50 newspapers folded and bagged by the fourth student?
A bracelet making company has three employees, and together they produce 10 bracelets an hour. When a fourth worker joins them, the output for the company is now 11 bracelets an hour. Which of the following is true?
A. Diminishing marginal product started with the fourth worker. B. Average product has increased. C. Total product is increasing. D. None of these is true.
Suppose the required reserve ratio is 10%. Mr. Normal uses his ATM card to withdraw $1,000 from this checking account in California National Bank. This action has
A) increased the M1 measure of money supply by $1,000. B) reduced the bank's required reserves by $1,000. C) increased the M2 measure of money supply by $1,000. D) not changed the M1 or M2 measures of money supply.
The government purchases multiplier is defined as
A) . B) . C) . D) .