Assume that employment decreases by 3%. Holding all other factors constant, we know with certainty that which of the following will occur?
A) output will decrease by 3%
B) output per capita will decrease by 3%
C) output will decrease by less than 3%
D) the capital labor ratio will decrease
E) none of the above
C
Economics
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The figure above shows the production possibilities frontier for a country. If the country is producing at point D, then the
A) resources are being used efficiently. B) technology associated with producing SUVs and compact cars is advancing. C) resources are not being used efficiently and/or are unemployed. D) production of SUVs and compact cars is maximized. E) None of the above answers is correct because it is not possible to produce at point D.
Economics
The Bureau of Labor Statistics unveils an unemployment rate figure every
A) two weeks. B) month. C) two months. D) quarter.
Economics