The Bureau of Labor Statistics Projects That There Will a Short

question 67

Multiple Choice

The Bureau of Labor Statistics projects that there will a short supply of ________ workers in the future.

• A)entry-level
• B)college-educated
• C)American-born
• D)computer-trained
• E)highly qualified

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Definitions:

Marginal Cost

The expenditure required to create one more unit of a product.

Producer Surplus

The difference between the amount that producers are willing and able to sell a product for and the actual amount they do sell it for.

Demand Curve

A visual plot that illustrates the connection between the cost of a product and the amount of it buyers are prepared and capable of buying at different price levels.

Supply Curve

A visual chart that illustrates how the price of a product correlates with the amount of the product that sellers are prepared to offer.