21) Voluntary separations may include: A) early retirements. B) hiring freezes. C) discharges. D) job redesigns. 22) Similar to a quit, a ________ is initiated by the employee, but in this case the employee is unlikely to search for another job. A) layoff B) retirement C) discharge D) buyout 23) Sara is 57 years old and she has been a division […]
31) Assume the U.S. population is 300 million. If 200 million people are of working age, 125 million are employed, and 15 million are unemployed, what is the size of the labor force? A) 200 million B) 140 million C) 125 million D) 215 million E) 175 million 32) The unemployment rate is the A) number of unemployed people. B) percentage of the population […]
81) With y measured on the vertical axis and x measured on the horizontal axis, the slope of a straight line is defined as A) y/x. B) x/y. C) (change in y)/(change in x). D) (change in x)/(change in y). E) y – x. 82) In a graph, a straight line has a negative slope if the line A) is vertical. B) […]
22) The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. The market equilibrium with no government intervention is raising ________. A) 0 goats B) 40 goats C) 50 goats D) 55 goats E) None of the above answers is correct. 23) The above figure shows the […]
82) Terence has $50 per week to spend on Subway sandwiches and milkshakes. The price of a Subway sandwich is $5 and the price of a milkshake is $4. He buys 6 sandwiches and 5 milkshakes. The marginal utility of the 6th sandwich = 25 and the marginal utility of the 5th milkshake = 24. Which of the following is true? A) He […]
6.5 Corporate Governance Policy and the Financial Crisis of 2007-2009 1) Why do corporations want to keep the price of their stock high? A) A higher stock price increases the funds the firm can raise when it sells a given amount of stock. B) Corporations can pay their managers lower salaries and avoid principal-agent problems when stock prices are higher. C) Higher stock […]
14.6 Integrative Questions 1) The table above shows A) a total product schedule. B) the market for labor. C) a production possibility frontier. D) a supply schedule. E) a demand for labor schedule. 2) Which of the following variables do you need to know to calculate marginal cost? i.change in total cost ii.marginal product of labor iii.change in quantity of […]
Use the following information for questions 12-14. James is a case manager for the New Day Recovery Center. This agency provides short-term treatment for individuals who have been charged with alcohol- or drug-related violations of the law. Many times, a new client will come to the center because of a court order. These clients usually are required to stay at the center for 30 […]
21) For a product with external benefits that is produced in a competitive, unregulated market, how can the resulting market output be described? A) underproduction compared to the efficient level B) overproduction compared to the efficient level C) Production equals the efficient level. D) Underproduction and overproduction are both possible depending on whether the external benefit is to consumption or production. E) None of […]
71) The term “m-commerce” is used to describe: A) the use of Internet in commerce. B) the use of web.com in commerce. C) the use of credit cards in commerce. D) the use of money in commerce. E) the use of cell phones in commerce. 72) ________-commerce is one of the significant marketing opportunities made possible by the digital revolution. A) Multinational B) Mobile […]
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