Refer to the above figure. Which of the following points indicates an efficient use of resources?
A. a
B. d
C. e
D. More information is needed to answer the question.
Answer: C
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Refer to above figure. Why would workers not shift from agriculture to manufacturing in the initial situation where wages are higher in the latter?
What will be an ideal response?
The CPI is used
a. to estimate from estimated to actual values b. to translate from real to nominal values c. to translate from nominal to real values d. as a policy target e. c and d
Oligopoly is a market structure that is characterized by a:
What will be an ideal response?
Labor hoarding occurs when
A. because of hiring and firing costs, firms retain workers in a recession that they would otherwise lay off. B. involuntary unemployment exceeds voluntary unemployment. C. the unemployment rate exceeds the natural rate of unemployment. D. firms keep good workers so other firms can't hire them.