The percentage of retired older workers has increased dramatically since the introduction of Social Security.
A. True
B. False
C. Uncertain
A. True
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Stagflation means a
A) high rate of inflation coupled with a high rate of unemployment. B) high rate of inflation coupled with a very low rate of unemployment. C) low rate of inflation coupled with a very high rate of unemployment. D) low rate of inflation coupled with a rate of unemployment below the natural rate.
Fixed costs are
a. costs that vary with output b. equal marginal costs c. costs that do not vary with output d. equal to total costs
Consider a public road that anyone is allowed to drive on. If the road is often congested, the road would be considered a
a. private good. b. club good. c. common resource. d. public good.
If a firm adopts a labor-saving piece of technology, it will:
A. decrease the marginal supply of labor. B. decrease the marginal product of labor. C. increase the marginal product of labor. D. increase the marginal supply of labor.