Use the following information to answer the next question.The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment.Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month but still has not gotten a job offer.George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve.Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in
her aircraft design skills.Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year but was unsuccessful and quit looking for work. Which individual is frictionally unemployed?
A. Mollie
B. Ricardo
C. Jeanette
D. George
Answer: A
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Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 deposit, then its loan balance can increase by a maximum of:
a. $0. b. $90. c. $100. d. $900. e. $910.
For a closed economy, GDP is $18 trillion, consumption is $13 trillion, taxes are $2 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?
a. $3 trillion and $1 trillion, respectively b. $3 trillion and $2 trillion, respectively c. $2 trillion and $3 trillion, respectively d. $2 trillion and $2 trillion, respectively
Which of the following goods are available at highly economical prices because the use of mass production techniques substantially reduces their per unit production costs?
What will be an ideal response?
Which of these has the least elastic demand?
A. Chicken B. Insulin (diabetes medicine) C. Levi's jeans D. Honda Civics