According to the Bureau of Labor Statistics, to be officially unemployed a person must
A. be in the labor force.
B. be waiting to be called back from a layoff.
C. have lost a job.
D. be 21 years of age or older.
Answer: A
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If 1-year interest rates for the next three years are expected to be 1, 1, and 1 percent, and the 3-year term premium is 1 percent, than the 3-year bond rate will be
A) 1 percent. B) 2 percent. C) 3 percent. D) 4 percent.
When a country opens up to free trade
A) winners and losers are created. B) comparative advantage dictates that the country focus on production of some goods and services at the expense of others. C) the gains outweigh the losses. D) All of the above.
A technological advancement has just occurred in the computer chip industry. In the computer chip market this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
Which of the following would not represent an incumbent's strategy to deter entry?
A) building excess capacity B) limit pricing C) patents D) restricting output