Each person who is 16 years or older is considered to be in one of the following categories:
A. employed, unemployed, or discouraged worker.
B. employed, unemployed, or out of the labor force.
C. part-time worker, full-time worker, or unemployed.
D. part-time worker, full-time worker, or out of the labor force.
Answer: B
Economics
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If the price is greater than the marginal cost of producing a good, the seller has
A) no benefit from the sale. B) a loss. C) some producer surplus from the sale. D) some negative consumer surplus from the sale. E) None of the above answers is correct.
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When entry of new firms decreases input prices in an industry, it is a(n)
a. increasing cost industry. b. decreasing cost industry. c. constant cost industry. d. input elastic industry.
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