How do future expectations about the price of a good affect the present supply?
(A) If the price is expected to decrease, many producers will hold onto their supply.
(B) If the price of a related good is expected to increase, only a few sellers will hold onto their supply until the increase occurs.
(C) If the price is expected to increase, many producers will hold onto their supply.
(D) If the price is expected to increase and then decrease, most sellers will hold onto their supply until the decrease has occurred.
Ans: (C) If the price is expected to increase, many producers will hold onto their supply.
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In response to an increase in total factor productivity
A) both the substitution effect and the income effect suggest that hours worked should increase. B) the substitution effect suggests that hours worked should increase, while the income effect suggests that hours worked should decrease. C) the substitution effect suggests that hours worked should decrease, while the income effect suggests that hours worked should increase. D) both the substitution effect and the income effect suggest that hours worked should decrease.
The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls Per HourNumber of Telephones Per HourNumber of Workers Per Hour11221461616182211024112 What is the total cost of making 6 calls an hour?
A. $40 B. $60 C. $30 D. $65
In April? 2017, which of the following demographic groups had a higher rate of unemployment than the unemployment rate for the total? population?
Answer the following questions true (T) or false (F)
1. The labor force participation rates of women have rapidly increased since 1948. 2. The household survey asks adults about their employment status and is used to compile the monthly unemployment rate. 3. The household survey is compiled from firms who answer questions about the number of persons who are employed and on the company payroll.