To reduce structural unemployment, a nation should focus on:
a. Changing the exchange rate so more can be exported and less imported.
b. Improving educational opportunities and job training
c. Increasing government spending for the military.
d. Cutting income taxes.
e. All the above.
.B
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Which of the following will cause an outward (rightward) shift in the supply curve?
A) a reduction in the price of the good B) an increase in the price of labor input C) an increase in the number of consumers D) technological progress
You run a small business producing picture frames. This month your total cost is $10,000, your variable cost is $5,000, and your output is 5,000 picture frames. Given this information, your:
A. average variable cost is $2. B. average total cost is $1. C. average total cost is $3. D. average fixed cost is $1.