Marginal physical product of labor is
a. total output divided by total labor employed
b. total labor employed divided by total output
c. change in total output divided by the change in labor employed
d. change in labor employed divided by the change in total output
e. total revenue divided by total output
C
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In 1994, the Bureau of Labor Statistics started to report
A) the unemployment rate weekly to provide a better picture of the labor market. B) alternative measures of the unemployment rate that include narrower measures of the labor market. C) alternative measures of the unemployment rate that include broader measures of the labor market. D) the unemployment rate by surveying 200,000 households. E) B and C are correct answers.
Which firm did the Treasury allow to fail during the financial crisis?
A) J.P. Morgan B) Bear Stearns C) Lehman Brothers D) American International Group (AIG)
A perfectly competitive firm has the cost function TC = 1000 + 2Q + 0.1 Q2. What is the lowest price at which this firm can break even?
What will be an ideal response?
On the eve of World War I, gains for unions included all of the following except:
a. substantial wage gains for members in some industries, including bituminous coal mining. b. the establishment of insurance programs to compensate workers injured on the job. c. political victories, including the elevation of the Department of Labor to cabinet-level status. d. legal protection of the closed shop.