In the United States, the percentage of part-time workers who would like full-time work
A) increases in recessions and decreases in expansions.
B) changes very little from expansion to recession.
C) in 2013 was almost 100 percent of all part-time workers.
D) Both answers A and C are correct.
E) Both answers B and C are correct.
A
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Golden Rule of Cost Minimization - to minimize cost, the firm should employ inputs in such a way that the _______________ per dollar spent is equal across all inputs.
Fill in the blank(s) with the appropriate word(s).
The multiplier effect occurs when:
A. the level of consumer confidence increases more than predicted given a tax cut. B. increased spending by one or more individuals causes others to react and increase their savings. C. spending by one person generates income for others and causes others to spend more too, increasing the impact of the initial spending on the economy. D. None of these is true.
Monopolies are characterized by a firm demand curve that is more elastic than the market demand curve.
Answer the following statement true (T) or false (F)
Price is a limited decision variable in which of the following market organizations?
A. monopoly B. perfect competition C. monopolistic competition D. oligopoly