Unemployment that is the result of deregulation, corporate downsizing, and the closure of military bases is best categorized as frictional unemployment.
Answer the following statement true (T) or false (F)
False
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The difference between the market price of a new car used by a firm and the market price of the same car one year later is known as
A) economic depreciation. B) physical depreciation. C) economic deterioration. D) physical deterioration.
You purchase a pizza oven that is expected to last 10 years for $15,000. How do you account for the economic cost of the oven?
A) Expense the oven, taking a write-off for the entire price in the first year. B) Amortize the cost over the 10 year life of the oven, resulting in a cost of $1,500 per year. C) Calculate the value of renting the oven to someone else and use that as your cost. D) The cost is the price of the oven minus any revenue made selling pizzas made in the oven.
Which of the following can shift the demand curve for labor to the right?
a. decrease in the price of the good b. increase in the wage rate c. decrease in the wage rate d. decrease in the marginal physical product e. increase in labor productivity
The individual who brings together economic resources and assumes the risk in a capitalist economy is called the:
a. Stockbroker b. Entrepreneur c. Banker d. Manager