Refer to the table below. If the price per unit of labor were to increase from $2 to $3, the most efficient production technique would then be:
The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18.
A. A
B. B
C. C
D. D
Answer: C
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Use the table below to answer the next question.YearEmployedStructuralFrictionalCyclicalUnemployed20031,800501005020020042,400100100 30020052,000 15018050020062,66040 0140Determine the number of people cyclically unemployed for the year 2004.
A. 200 B. 100 C. -100 D. 0
In a market economy, opportunity costs are always synonymous with explicit monetary costs.
Answer the following statement true (T) or false (F)
A marginally attached worker is
A) a person who is not happy with his or her job. B) someone who works part-time more than 25 hours per week but wants full-time work. C) someone who does not have a job but is available and willing to work and has made specific but unsuccessful efforts to find a job during the past 4 weeks. D) someone who does not have a job but is available and willing to work but has not made specific efforts to find a job during the past 4 weeks. E) another name for an unemployed worker.
If a freeze destroys much of the crop of an agricultural nation, then
A) the desired investment curve would shift to the left. B) the desired investment curve would shift to the right. C) net foreign lending would increase. D) net foreign lending would decrease.