Providing workers with on-the-job training will increase:
A. the labor force participation rate.
B. the unemployment rate.
C. average labor productivity.
D. the share of the population employed.
Answer: C
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Some Internet companies like Amazon reduce the transaction costs of many purchases by
A) providing misleading information about the quality of products. B) providing information about products and firms that supply those products. C) advertising sales at local discount stores. D) paying its employees low wages.
To the extent that the CPI does not accurately measure the true price level,
a. the BLS will change the underlying market basket of goods b. it is useless c. it exaggerates the true cost of living d. it results in underindexation of social security payments e. it underestimates the true cost of living
The government defines the poverty line as
A. the lowest income quintile (20%). B. those receiving public assistance or eligible for public assistance. C. anyone who does not have to pay federal income tax. D. a minimum dollar amount of income, depending on family size.
When a firm hires a worker for one hour, the marginal benefit to that firm equals the:
A. dollar value of the goods produced by that worker in one hour. B. hourly wage of that worker. C. number of items the worker produces in that hour. D. price of each item that the worker produces in that hour.