The tertiary sector of the economy employs housecleaners, restaurant help and hotel employees; it does not employ private consultants, accountants, nanotechnologists, managers and other professionals
Indicate whether the statement is true or false
False (It includes all service types of employment.)
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If the economy were at full employment and is producing at point Y,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities frontier would have shifted inward.
D. the production possibilities frontier would have shifted outward.
The key to wealth building and personal freedom is found in obtaining a high paying job.
Indicate whether the statement is true or false.
If a firm's MPK is below its user cost of capital, it is employing too ________ capital and its profit is ________ in the long run
A) little, above what it will be B) little, below what it could be C) much, above what it will be D) much, below what it could be
On the graph above, the wage level at point ________ might represent a binding minimum wage
A) 2 B) 4 C) 6 D) 5