The above table shows the total product of producing baseball hats. The marginal product of the 4th worker is equal to

The two fundamental causes of unemployment at full employment are

A) demographic change and decreases in the demand for labor. B) job search and job rationing. C) seasonal jobs and technological change. D) foreign competition and financial bankruptcies. E) decreases in labor productivity and more generous retirement benefits.

One requirement for an industry to be perfectly competitive is that in the industry there

A) are a few firms who control the market. B) are many firms for whom the efficient scale of production is small. C) is one firm that sells a product with no close substitutes. D) are many firms selling different products. E) is a barrier to entry that makes the entry of new firms difficult.