Unemployment insurance cannot eliminate the national costs of lost output due to unemployed labor.
Answer the following statement true (T) or false (F)
True
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Suppose a price-taking firm uses a single input - labor - to produce an output x. The production technology has diminishing marginal product of labor throughout. a. On a graph with labor hours on the horizontal and output on the vertical axis, illustrate the production frontier for this firm. b. For a given wage rate w and output price p, illustrate three isoprofit curves corresponding to profit levels ?
What will be an ideal response?
Currently, when a consumer purchases a "green" automobile, the U.S. government gives the consumer a rebate. When the rebate program expires, we would expect
A) producer surplus to increase. B) consumer surplus to drop. C) consumer surplus to remain unchanged, since they pay the price and only get the rebate later. D) producers to stop making "green" automobiles.
Why does a tax change affect aggregate demand?
A. A tax change alters saving by an equal amount. B. A tax change alters imports and net exports. C. A tax change alters government spending by an equal amount. D. A tax change alters disposable income and consumption spending.
Sharisse brags to her mother that her starting salary as a management trainee is $36,000, much higher than her mother's starting salary of $21,000 as a management trainee several years ago
If the CPI the year Sharisse begins work is 181.2 and the CPI the year her mother started work was 109.1, Sharisse is A) wrong. Adjusting for price changes, her salary is less than her mother's salary. B) correct. Adjusting for quantity changes, her salary is more than her mother's salary. C) correct. Adjusting for price changes, her salary is more than her mother's salary. D) wrong. Adjusting for quantity changes, her salary is less than her mother's salary. E) maybe wrong and maybe right. Adjusting for quantity changes, her salary is less than her mother's salary but with the information given we are unable to further adjust for price changes.