In the Current Population Survey, a person is considered unemployed if the person
A) is without a job.
B) is working anything less than 40 hours per week.
C) is working without pay.
D) does not have a job and is actively looking for a job.
E) is working less than 20 hours per week.
D
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U.S. labor productivity slowed during the 1970s because of
i. increasing government taxes and regulations on production. ii. the necessity to cope with energy price increases. iii. inflation, which shortened the horizon over which businesses made their borrowing plans. A) i only B) ii only C) iii only D) Both i and ii E) i, ii, and iii
Which of the following could cause the production possibilities frontier to shift to the right?
a. More government regulation that stunts economic growth b. Changes in the rules of the game that stunt economic growth c. Lower quality resources d. Fewer productive resources e. Production of more capital goods and fewer consumer goods
The passage of the Smoot-Hawley Tariff in 1930 sparker a trade war that caused net exports to ___ and real GDP to ___
Fill in the blank(s) with the appropriate word(s).
A pure monopolist determines that at the current level of output the marginal cost of production is $2.00, average variable costs are $2.75, and average total costs are $2.95. The marginal revenue is $2.75. What would you recommend that the monopolist
do to maximize profits? What will be an ideal response?