The Cobb-Douglas production function for a beer manufacturer is q=1.52L0.6K0.4. Assume that the firm's capital is fixed at 250 units, the rental rate of capital is $5 per unit, and the wage rate is $10 per hour
The amount of labor needed to produce q units of output is A) 0.0124q.
B) 13.832q0.6.
C) 0.0124q1.67.
D) 13.832q1.67.
C
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U.S. leadership has recently eroded in just about every aspect of global life except one, and that is its ______ dominance.
Fill in the blank(s) with the appropriate word(s).
In 1933 the unemployment rate was about 25%. This percentage
(a) is probably quite accurate because the data on unemployment collected by the federal government was quite good at the time. (b) is probably too high because some people with jobs claimed to be unemployed so that they could collect unemployment compensation payments. (c) is probably too low because there were discouraged and underemployed workers. (d) is probably meaningless because the data on unemployment was either very poor or nonexistent.