Retired persons are officially classified as:
a. unemployed.
b. self-employed.
c. underemployed.
d. not in the labor force.
d
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A tax
A) places a wedge between the price paid by the buyers and the price received by the sellers. B) reduces consumer surplus and producer surplus. C) decreases government spending. D) Both answers A and B are correct. E) None of the above answers is correct.
The term "double coincidence of wants"
A. means that people are trying to purchase the same thing. B. is a situation where runaway prices are the result of printing too much money. C. describes a barter situation where individuals agree to trade commodities in amounts satisfactory to both parties. D. means that people with the same commodities agree to trade among themselves.
If the interest rate is higher than normal, people are more likely to hold
a) bonds instead of money because the opportunity cost of money is high b) bonds instead of money because as the interest rate starts to rise, the value of the bonds will increase c) money instead of bonds because the brokerage fees and other costs of buying bonds are high when the interest rate is low d) money instead of bonds because there is a speculative motive for holding a larger amount of money
Which one of the following is TRUE?
A. Saving enables economic growth by providing for investment in the capital stock. B. International comparisons have found no relationship between the rate of saving and the level of per capita real GDP. C. Saving deters economic growth, because it takes money out of circulation. D. Economies with sophisticated credit markets, such as the United States, have no need for saving.