When did the United States register its lowest unemployment rate?
A) in the 1920s
B) in the economic boom of the 1990s
C) in the Roaring Nineties (1890s)
D) at the end of World War II
D
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Some economists argue that Microsoft become a monopoly in the market for computer software by developing MS-DOS, an operating system used for the first IBM personal computers
The more people who used MS-DOS-based programs, the greater the usefulness of a using a computer with an MS-DOS operating system. The explanation for Microsoft's monopoly is A) the development of new technology that other firms could not copy. B) network externalities. C) patents Microsoft obtained when it developed the MS-DOS operating system. D) control of a key resource which, in this case, is the MS-DOS operating system.
If a firm fired one worker and lost 12 units of production and decides to add one more unit of capital, then to remain on the same isoquant what must be TRUE?
A) The MPK of the next unit of capital added equals 12. B) The firm must force the other workers to work more. C) The firm will experience a decline in output. D) The marginal rate of technical substitution is greater than 12.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
In all its corporate communications, Always Round Tire features a factory worker looking at the camera saying, "Just keep it rolling!" The reason for this logo is that it
A. indicates the expectations of the workers. B. indicates that piece rates are the only wages the workers receive. C. represents the image that the company wishes to present to its workers. D. represents the company's organizational architecture.