When real wages decline, ______.
a. employers must fire workers
b. employers can hire more workers
c. workers have fewer job opportunities
d. workers have lower expenses
b. employers can hire more workers
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A 10 percent increase in the price of tablets leads to a 10 percent decrease in the quantity demanded of tablets. The absolute price elasticity of demand for tablets is
A) 3. B) 0.3. C) 1. D) 10.
The relationship between NPV and IRR is such that :
a. both approaches always provide the same ranking of alternatives b. the IRR of a project is equal to the firm's cost of capital when the NPV of a project is $0 c. if the NPV of a project is negative, then the IRR must be greater than the cost of capital d. all of the above e. none of the above
What short-run choice does the Phillips curve illustrate?
a. The choice between higher real wages and higher output b. The choice between cyclical unemployment and frictional unemployment c. The choice between a higher capital stock and inflation d. The choice between higher output per capita and maintaining the natural rate of unemployment e. The choice between unemployment and inflation
Many unsuccessful, low performing LDCs have all of the following characteristics except
a. political instability b. reliance on custom and traditions c. absence of infrastructure d. high population growth e. acceptance of new technology