Over the past 50 years, the U.S. labor force participation rate has decreased for
i. men.
ii. women.
iii. the over-all labor force.
A) i only
B) ii only
C) i and iii
D) ii and iii
E) i, ii, and iii
A
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Changing the discount rate
a. provides a signal that the Fed wants to encourage an expansion or contraction of the money supply. b. is usually done in large increments in order to have a rapid impact on business activity. c. is primarily remedial rather than preventive. d. is a function of the Federal Reserve Banks without any review by the Board of Governors.
While the classical economists believed that both velocity and output are stable, Keynesians believe
a. velocity is stable and output is variable b. velocity and output are both variable c. output is stable and velocity is variable d. on this one point only, that the classical economists are right: that both output and velocity are stable e. at low levels of income both velocity and output are stable, but at high levels of income velocity becomes variable
Joe's Juice Shop operates in a monopolistically competitive market. Joe's is currently producing where its average total cost is minimized. In the long run we would expect Joe's output to
a. decrease and average total cost to increase. b. decrease and average total cost to decrease. c. remain unchanged as Joe's is doing the best it can. d. increase and average total costs to decrease.
The first, second, and third workers employed by a firm add 24, 18, and 9 units to total product respectively. Therefore, the:
A. marginal product of the third worker is 9. B. average product of the three workers is 18. C. total product of the three workers is 54. D. marginal product of the first worker is 18.