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QUESTION
Firm Wal-Mart Labor is an important factor of production for all firms. The most recent unemployment rate is estimated at 5.6% (December 2014)....
Firm Wal-Mart
- Labor is an important factor of production for all firms. The most recent unemployment rate is estimated at 5.6% (December 2014). Economists have identified three types of unemployment. Describe in your own words. Which type would affect your firm? Explain.
- Answer the following questions concerning the U.S. GDP:
a. If a U.S. firm hires foreign workers abroad, would these wages count in the U.S. GDP? (i.e. an Indian citizen working in a call center for Microsoft in India) Why or why not?
b.If your firm decides to open a production facility in China, would this be counted in the U.S. GDP?
