Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods.
B) Firms are the suppliers in the market for labor as well as the market for consumer goods.
C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods.
D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.
C
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Assuming the economy in the graph shown is currently at equilibrium A, we can conclude:
A. the economy is in a recession.
B. the economy is producing less than its potential level of output.
C. there must be unemployment of resources.
D. All of these are true.
The larger the simple deposit multiplier,
A) the higher the required reserve ratio. B) the higher the discount rate. C) the larger the change in the money supply for a given change in deposits. D) the less likely the Fed will be to use its monetary policy tools.
Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. 
If Straker Industries produces 12 units of output, what is estimated average variable cost (AVC)?
A. $32.40 B. $38.60 C. $28.04 D. $33.33
What is the "division of labor"? How is the division of labor related to production?
What will be an ideal response?