[单项选择]In the short run, the average product of labor:（）
A. is initially declining but must increase at some point.
B. is upward sloping if the firm is experiencing diminishing marginal returns to labor.
C. is at A maximum where it intersects the marginal product of labor curve.

[单项选择]Thompson Industries has the following short-run cost structure per level of production output: Output Units (Q) Total Costs (TC) Fixed Costs (FC) 30000 $ 240000 $12000 50000 $ 360000 $12000 70000 $ 480000 $12000 90000 $ 570000 $12000 Based on the above and assuming a sales price of $10 per unit, what is the marginal cost per unit if the Company’s output is increased from 50000 units to 70000 units（）
A. $6.86
B. $6.00
C. $4.60

[单项选择]In a perfectly competitive industry, the short-run supply curve for the market is the:（）
A. marginal cost curve above the average variable cost curve.
B. sum of the individual supply curves for all firms in the industry.
C. average variable cost curve above the marginal cost curve.

[单项选择]Under perfect competition, the short-run market supply curve is most accurately described by which of the following statements The market short-run supply curve is the:（）
A. average of the quantities at each price along the marginal cost curve for all firms in a given industry.
B. sum of the quantities at each price along the average total cost curve for all firms in a given industry.
C. sum of the quantities at each price along the marginal cost curves for all firms in a given industry.

[单项选择]The short-run supply curve to a firm operating under perfect competition is most accurately described as the segment of the:（）
A. marginal cost curve below the average total cost curve.
B. average total cost curve above the marginal cost curve.
C. marginal cost curve above the average variable cost curve.

[单项选择]If the economy is in short-run equilibrium above the full-employment level of output, what is the most likely adjustment that will restore the economy to long-run equilibrium （）
A. Money wages and resource prices will increase.
B. The price level for final goods and services will decrease.
C. Long-run aggregate supply will increase.

[单项选择]The short-run supply curve for a price taker firm is the portion of the marginal:（）
A. cost (MC) curve below the average variable cost (AVC) curve.
B. cost (MC) curve above the average total cost (ATC) curve.
C. cost (MC) curve above the average variable cost (AVC) curve.

[单项选择]Compared to the short-run supply curve, the long-run supply curve is:（）
A. flatter.
B. steeper sloping downward to the right.
C. steeper sloping upward to the right.

[单项选择]The Zaxon Company produces one product and labor is the only variable resource in the production process. In the short run, Zaxon faces a horizontal demand curve at $20 per unit. The average product of labor in the short run is given in the following table:
A. Resouce Units
B. Average Product of Labor
C. 1
D. 25
E. 2
F. 22.5
G. 3
H. 20
I. 4
J. 17.5

[单项选择]In the short run, price searchers maximize profits by producing output where marginal revenue (MR):（）
A. equals marginal costs (MC) and charging a price based on the average total cost (ATC) curve.
B. is greater than marginal costs (MC) and charging a price based on the demand curve.
C. equals marginal costs (MC) and charging a price based on the demand curve.

[单项选择]In the short run, when there is excess capacity in the economy, an unanticipated increase in the money supply will initially exert its primary impact on:（）
A. output and employment rather than on prices.
B. inflation, particularly if excess capacity is present.
C. interest rates because rising interest rates will stimulate additional savings.

[填空题]There’s a great (short) （）of labor in this city.

[填空题]Proper Physical Labor

[填空题]Particular average

[单项选择] Labor Force The labor force is the part of a nation’’s population that works for pay or that is looking for a paying job. In 1800, the United States had about 2 million people in its labor force. Most of them worked on farms, most of whom were men. In 1993, about 130 million Americans were in the labor force. 96 million workers were found in large cities, 46 percent of whom were women. New Kinds of Jobs In the twentieth century, the U. S. labor force has undergone many changes. One of the most significant of these changes is in the decline in the number of blue collar jobs and the rise in the number of white-collar jobs. A blue-collar job involves manual or outdoor labor. Blue-collar workers include factory assemblers and welders; carpenters, plumbers(水暖工), mechanics, and painters; construction workers, and truck drivers. Although the number of blue-collar workers increased in the twentieth century, the future will see a declining need
A. Y
B. N
C. NG