Refer to Table 20-1. The labor force participation rate for this simple economy equals
A) (1,100/15,000 ) × 100. B) (1,000/15,000 ) × 100.
C) (1,000/1,100 ) × 100. D) (1,100/20,000 ) × 100.
A
Economics
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Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 5, Q = 125) and (L = 6, Q = 152). Then the marginal product of the 6th worker is
a. 25 units of output. b. 27 units of output. c. 37 units of output. d. 162 units of output.
Economics
In order to change the money supply, the Fed might use all of the following tools except:
A. discount window. B. reserve requirement. C. open market operations. D. deficit spending.
Economics