Renee plans to graduate and enter the job market in the spring. Economists are forecasting a recession during the spring. As a result, she
a. is happy because unemployment rates are low during a recession
b. is happy because salaries are usually higher during a recession
c. does not care because the availability of jobs is not affected by whether there is a recession
d. is unhappy because it is generally difficult to find a job during a recession
e. favors increasing taxes to help head off the recession
D
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The profit maximizing condition for a firm in monopolistic competition is to produce so that
A) marginal cost equals marginal revenue. B) marginal cost equals price. C) average total cost equals price. D) price equals marginal revenue.
Labor productivity refers to the total amount of output a worker produces in some period of time (an hour, a week, a month, a year).
Answer the following statement true (T) or false (F)