In the long run, the quantity of capital available to a firm is fixed
a. True
b. False
Indicate whether the statement is true or false
False
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If demand decreases and the price doesn't change, there will be
A. a surplus. B. neither a shortage nor a surplus. C. both a shortage and a surplus. D. a shortage.
Unemployment rates for skilled workers compared to unemployment rates for unskilled workers are:
a. Lower, because skilled workers tend to be primarily employed by government at the local, state, and Federal levels b. Lower, because skilled workers tend to be employed in less cyclically vulnerable industries, such as the services and nondurable goods industries c. Higher, because businesses are less likely to retain the more costly skilled workers no matter what type of industry d. Higher, because skilled workers tend to be employed in more cyclically vulnerable industries, such as the durable goods industry
What is the unemployment rate if there are 170 million people employed, 25 million people unemployed, and 35 million not in the labor force?
A. 10.9% B. 14.7% C. 12.8% D. 13.7%
Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Suppose a timing element is added to the game, and that Jordan buys a ticket first. Then, after seeing Jordan's choice, Lee buys a ticket. What will be the equilibrium outcome?
A. Both Jordan and Lee will buy a ticket to the documentary. B. Both Jordan and Lee will buy a ticket to the comedy. C. Jordan will buy a ticket to the documentary and Lee will buy a ticket to the comedy. D. Jordan will buy a ticket to the comedy and Lee will buy a ticket to the documentary.