For all practical purposes, a discouraged worker is an unemployed person because a discouraged worker is not working
Indicate whether the statement is true or false
False
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Which of the following people came close to abolishing scarcity in their regions some years ago?
A) Major Kwame Kilpatrick in Detroit B) President Bill Clinton in the U.S C) Governor Sarah Palin in Alaska D) All of the above. E) None of the above.
The quantity of pencils sold is 1000 at the unit price $0.5. Suppose the price elasticity of demand for pencils by the initial value method is 2, and you would like to increase the quantity sold to 1200. Then the new price for pencils must be:
A. $0.05. B. $0.25. C. $0.30. D. $0.45.
Which of the following increases in labor demand is due to a change in the price of a related resource?
A. Software sales rise, thus increasing the demand for software developers B. Snowboarding increases in popularity, thus increasing the demand for the workers who make snowboards C. A decrease in the price of wood decreases the cost of furniture, thus increasing the demand for furniture workers D. A technological change increases output per worker in the computer industry, thus increasing the demand for computer workers
If the marginal revenue product (MRP) of labor is less than the wage rate
A. less labor should be employed. B. the firm is making profits. C. the firm is incurring losses. D. more labor should be employed.