If a resource is unemployed, it
a. is also underemployed
b. is utilized, but not in its most productive employment
c. is not utilized
d. is not counted as a resource for the economy
e. must be a labor resource
C
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The government office that declares official periods of recession and depression is the:
A. National Bureau of Economic Research. B. Bureau of Labor Statistics. C. Congressional Budget Office. D. Federal Reserve Board.
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $30?
A. 3 B. 2 C. 4 D. 1
Kris, Taylor and Max are the only three residents in a neighborhood. A public good that would benefit all of them has a one-time installation cost of $900. The value of the public good to each resident is shown in the table below. Any tax plan must be approved by simple majority. ResidentReservation PriceIncomeKris$100$1,000Taylor$200$5,000Max$700$6,000 If the government proposes to pay for the public good with a proportional income tax of 8 percent, then:
A. Kris and Max will vote in favor of the tax, but Taylor will vote against it. B. all three voters will vote against the tax. C. Max and Taylor will vote against the tax, but Kris will vote in favor of it. D. all three voters will vote in favor of the tax.
A necessary cost-side condition for a firm to implement a cross-subsidization pricing strategy is:
A. constant marginal cost. B. economies of scale. C. limited capacity. D. economies of scope.