Which of the following people would be considered employed in the Census Bureau's Household Survey?
a. A homemaker working 20 hours cleaning her house
b. A person paid to work 2 hours per week cleaning houses
c. A child shoveling neighbors' driveways for money
d. A person volunteering full-time at a local hospital
e. A laid-off carpenter looking for a job
B
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A manufacturer of wood chippers estimates that the probability of a fatal accident caused by the design of its product is 1/40,000 and the value of a life lost is $2 million
The manufacturer can change the design to eliminate that chance for $60 per wood chipper and is prepared to incorporate all cost-justified precautions. Will the manufacturer change the design? What would the benevolent social planner think about the manufacturer's decision if the true probability of a fatal accident is actually 1/30,000?
If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
What is the marginal product of labor?
What will be an ideal response?
Compared to a direct cash transfer payment of an identical amount, food stamps make individuals who desire less food than the value of the food stamps _____
a. better off b. worse off c. indifferent between food and all other goods d. prefer food too all other goods on the margin