Eric lost his job because a recession caused his employer's sales to fall. This is an example of:
A. involuntary unemployment.
B. frictional unemployment.
C. structural unemployment.
D. cyclical unemployment.
Answer: D
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Refer to the table above. You are told that Country B is very much larger than country A. The correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
If a firm hires 312 workers it will produce 4,522 units of output. If it hires 313 workers it will produce 4,786 units of output. The marginal physical product of labor equals
A) 4,786. B) 313. C) 264. D) 1.
What is the Nash equilibrium of this one-shot game?
a. Firm A will charge a lower price and firm B will charge a lower price b. Firm A will charge a higher price and firm B will charge a lower price c. Firm A will charge a lower price and firm B will charge a higher price d. Firm A will charge a higher price and firm B will charge a higher price
The question "Should more capital goods be produced instead of consumer goods?" is an example of which fundamental economic question?
A. The What to Produce question. B. The Why to Produce question. C. The How to Produce question. D. The For Whom to Produce question.