In 2007 a company sold 35,000 drones at $150 each. In 2008 the same company sold 40,000 drones at $170 each. This information suggests that
A. The supply of drones increased from 2007 to 2008.
B. The price of drones increased because the costs of production increased from 2007 to 2008.
C. The demand for drones increased from 2007 to 2008.
D. From 2007 to 2008, the demand curve for drones was upward-sloping because of improved technology.
Answer: C
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If the United States' unemployment rate is 10 percent and the capacity utilization rate is 70 percent, the economy is in the midst of a ____________.
Fill in the blank(s) with the appropriate word(s).
Refer to the above table. What is the marginal factor cost when the firm employs the second unit of labor?
A. $21 B. $38 C. $36 D. $19
In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.1, and d = 0.4, what is the value of k at equilibrium?
A) 1 B) 2 C) 3 D) 4
When an economy is producing at its potential level of output:
A. cyclical unemployment is not occurring. B. frictional unemployment is not occurring. C. structural unemployment is not occurring. D. there is no unemployment.