Unformatted text preview: by foreign residents. (b) because some intermediate good inputs are imported. (c) because some workers are illegal aliens. (d) whenever tariff rates become excessively high. Zowie! Surfboards has the following production function. Number of Workers Number of Surfboards Produced 1 12 2 21 3 29 4 36 5 42 4). If surfboards sell for $30 and the nominal wage rate is $200, how many workers should the firm employ? A) 2 B) 3 C) 4 D) 5 5). How many people are unemployed if the employment ratio is 75%, there are 90 million people employed, and there are 20 million people not in the labor force? A) 20 million B) 10 million C) 5 million D) 0 million...
View Full Document
This note was uploaded on 11/12/2011 for the course ECON 300 taught by Professor Zh during the Spring '11 term at SUNY Albany.
- Spring '11