Using the textbook's production function, an increase in A requires that one percent more labor working with ________ capital produces more ________
A) an unchanged amount of, real GDP
B) an unchanged amount of, real GDP per labor input
C) one percent more, real GDP
D) one percent more, real GDP per labor input
D
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Adverse selection is a situation in which
a. only men are hired for particular jobs b. comparable worth laws actually reduce the number of women in certain professions c. people who use illegal drugs apply for jobs where employers do not use drug testing d. employers have a better knowledge of the productivity of labor suppliers than do the labor suppliers e. employers attempt to quantify the productivity of their workers
While a firm in long-run equilibrium will make zero economic profits, it is still possible for the firm to make ______________ profits.
Fill in the blank(s) with the appropriate word(s).
In economics, "investment" refers only to the creation of new capital.
Answer the following statement true (T) or false (F)
Scenic Cinemas surveyed its audience and found that while most movie goers prefer weekends, seniors visit on weekdays. How should the theatre respond?
a. Increase prices for the weekday shows, decrease the prices for the weekend shows b. Decrease both the weekday and weekend ticket prices c. Decrease prices for the weekday shows, increase prices on the weekends d. Increase both the weekday and weekend prices