The Following Table Shows the Number of Payroll Jobs the Government

question 26

Multiple Choice

The following table shows the number of payroll jobs the government added during the years it added jobs (since 1973) .The jobs are in thousands. Approximately what percent of the time did the government add 200,000 or more jobs?

• A) 19%
• B) 50%
• C) 77%
• D) 81%

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output produced. It measures the cost per unit of output.

Ceteris Paribus

a Latin phrase meaning "all other things being equal," used in economic models to isolate the effect of one variable.

Economies of Scale

The financial advantages gained by companies due to their operational scale, where there's a general decline in the cost per unit of output with the growth in scale.

Total Demand

The entire quantity of a particular good or service that all consumers in a market want to purchase at various price levels during a specified time period.