Sally stopped looking for work six months ago, so she would not be a part of the labor force.
Answer the following statement true (T) or false (F)
True
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Table 7-4 ? 6 346 490 600 692 775 846 ? 5 316 448 548 632 705 775 ? 4 282 400 490 564 632 692 CAPITAL 3 245 346 423 490 548 600 ? 2 200 282 346 400 448 490 ? 1 141 200 245 282 316 346 ? 0 1 2 3 4 5 6 ? LABOR ? ? ? ? ? The production relationship in Table 7-4 indicates a process characterized by
A. decreasing returns to scale. B. constant returns to scale. C. increasing returns to scale. D. increasing then decreasing returns to scale.
What characteristic of the endogenous growth model is crucial in giving the possibility of sustained growth?
A) It is embodied in people. B) It has constant returns to scale in production. C) It takes time to accumulate it. D) It grows at the same rate as consumption.
When a mall Santa Claus loses his job at the end of the Christmas season, this is an example of
a. frictional unemployment b. structural unemployment c. frictional unemployment d. seasonal unemployment e. economic unemployment
In the U.S. Steel case, the court ruled that:
A. even though a firm's behavior might be legal, the mere possession of monopoly power was in violation of the Sherman Act. B. only monopolies that unreasonably restrain trade are subject to antitrust action under the Sherman Act. C. when made by dominant firms, tying contracts are illegal, per se. D. the company violated the Clayton Act and therefore should be dissolved into several competing firms.