In the figure above, the quantity of high-skilled labor employed is
A) 2,000 hours per day.
B) 4,000 hours per day.
C) 5,000 hours per day.
D) 7,000 hours per day.
B
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Sellers in which of the following market structures are likely to have the highest market power?
A) Monopoly B) Oligopoly C) Perfect competition D) Monopolistic competition
Holding a currency to the gold standard works:
A. to the advantage of savers at the expense of borrowers. B. to the advantage of borrowers at the expense of savers. C. for no one, and hurts both savers and borrowers from access to money. D. for everyone, benefiting both savers and borrowers.
The unemployment rate is
A. the number unemployed divided by the labor force. B. the number unemployed divided by the population. C. the difference between the population and the number employed divided by the population. D. the number unemployed divided by the number employed.
Exports from the United States (as a percentage of GDP) have
A. remained constant for the last 50 years. B. increased from 1960 to 1980 but has been steady since. C. increased over the last 50 years. D. decreased over the last 50 years.