The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance
a. True
b. False
Indicate whether the statement is true or false
False
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How does the price of the final good for which labor is used to produce affect the demand for labor?
What will be an ideal response?
When the marginal product of labor diminishes,
a. average fixed cost rises. b. average variable cost is constant. c. marginal cost rises. d. average total cost must rise. e. total cost rises at a diminishing rate.
Currently, it is illegal to import prescription drugs into the United States despite the fact that U.S. consumers could buy drugs from Canada at lower prices than those available in the United States. What set of cost curves is most consistent with the price difference between the United States and Canada?
A. Producing a drug has a low fixed cost with a relatively high marginal cost. B. Producing a drug has a high fixed cost with a relatively low marginal cost. C. Producing a drug has a high and constant marginal cost. D. Producing a drug has a low fixed cost and a rising marginal cost.
Because the benefits distributed under TANF and Medicaid are essentially controlled by the states, critics argue thatÂ
A. recipients can receive benefits for a longer time period than if the programs were controlled by the federal government. B. people receiving benefits have greater incentive to work more. C. poor people with equal needs receive unequal benefits. D. a negative income tax controlled by the federal government is less efficient.