The statement that "IBM's stock closed at $85" is
a. a normative statement
b. a positive statement
c. a macroeconomic observation
d. financial manipulation
e. a sign that the market may be undervalued
B
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The labor force participation rate (LFPR) equals the number of
A) employed persons divided by the number of unemployed persons. B) unemployed persons divided by the civilian noninstitutional population. C) employed persons divided by the civilian labor force. D) employed persons divided by the civilian noninstitutional population. E) none of the above
Diminishing returns to capital is a consequence of firms' incentives to use each piece of capital as productively as possible and illustrates the:
A. principle of increasing opportunity costs. B. scarcity principle. C. cost-benefit principle. D. principle of comparative advantage.