In the problem of double marginalization, the resulting price is ______than if the manufacturer were to sell directly to the consumer
a. Higher
b. Lower
c. The same
d. None of the above
a
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The results of the Bureau of Labor Statistics' establishment survey measure
A) only the number of nonfarm payroll workers who have found employment. B) only the number of nonfarm payroll workers who have lost jobs. C) the net change in nonfarm payroll worker employment. D) the number of nonfarm payroll workers and farm workers who have found jobs minus the number of nonfarm payroll workers and farm workers who have lost jobs and are no longer seeking employment.
Macroeconomics is best suited to answering questions such as
a. what determines the unemployment rate among students on this campus b. why rent is higher in big cities than in smaller ones c. how fast the overall price level will rise next year d. what determines the demand for public transportation in rural areas e. why sales taxes in this area are increasing
Which of the following would most likely cause the movement from S 1 to S 2 ?
a. A much higher percentage of high school graduates seek jobs rather than go to
college.
b. There is an increasing trend among people in their fifties to retire early.
c. A well-publicized medical study motivates a large number of people to reduce their
work hours.
d. A country uses the profits from its nationalized oil industry to give an income subsidy
to all citizens.
Suppose that production for good X is characterized by the following production function, Q = 4K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $86.80 and the per-unit wage, w, is $20, then the average total cost of using 25 units of capital and 49 units of labor is:
A. $5.25. B. $31.00. C. $22.50. D. There is insufficient information to determine the average total costs.