According to the general utility formula, the marginal utility of product A divided by the ____________ is equal to the marginal utility of product B divided by the _____________.

Refer to Table 2.3. The principle of diminishing returns first occurs when how many workers are hired?

A) 2 B) 3 C) 4 D) 5

Unemployment rates were much higher in the 1980s than they were in the 1950s basically because

A) a higher percentage of the population was in the labor force in the 1980s, but the cost to many of them of being unemployed was much lower than it was in the 1950s. B) automation has eliminated many unskilled jobs. C) fewer jobs are available in the 1980s relative to the population. D) inflation raises unemployment rates. E) recessions have become much more severe since the 1950s.