The quantity and quality of human capital, physical capital, technology, natural resources, entrepreneurship, and the legal and political environment determine the:
A. average labor productivity.
B. unemployment rate.
C. labor force participation rate.
D. real interest rate.
Answer: A
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In the figure above, if point "a" represents the original equilibrium and point "b" the new equilibrium, then
A) there has been an increase in supply. B) there has been an increase in demand. C) there has been a change in the quantity supplied and no change in supply. D) Both answers B and C are correct. E) Both answers A and B are correct.
The Jones family is going to Disney World and has set a budget of $2000 for food and souvenirs. If Mr. Jones finds a $50 bill on the ground during their trip and uses it to purchase additional souvenirs, then
a. souvenirs are a normal good b. food is an inferior good c. the budget line has shifted to the left d. the slope of the budget line has changed e. souvenirs are a luxury good
The long-run labor demand curve is relatively flatter than the short-run labor demand curve because, in the short run,
A) the wage rate is fixed. B) the firm cannot vary the amount of capital used. C) the firm is a price taker. D) All of the above.
A fund that takes household savings and puts them into ________ projects in exchange for a share of the profits if the new business succeeds is a venture capital fund.
A. zero-risk B. low-risk C. high-risk D. government