In the United States, to count as unemployed, you must:
A. actively looking for work.
B. be younger than 65 years old.
C. be skilled enough to hold a job.
D. All of these are true.
Answer: A
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Of the following, which best explains why Thomas Malthus was incorrect in his prediction that population would outstrip food supplies?
A) Malthus failed to realize that that human population would increase considerably. B) Malthus failed to recognize that economic growth is accompanied by smaller family sizes. C) Malthus incorrectly believed that economic growth would reduce birthrates. D) Malthus incorrectly predicted that modernization would increase the demand for children.
The law of comparative advantage does not apply to
a. entire nations b. natural resources like air and sunshine c. individuals d. firms e. regions of a country
How is the value added for each firm calculated?
a. by multiplying the product value for the previous firm with the product value for the
current firm
b. by dividing the product value for the current firm by the product value for the next firm
c. by subtracting the product value for the previous firm from the product value for the
current firm
d. by adding the product value for the current firm to the product value for the next firm
A family that earns $20,000 a year pays $400 a year in city wage taxes. A family that earns $40,000 a year pays $1,400 a year in city wage taxes. The city wage tax is a ________ tax.
A. progressive B. regressive C. proportional D. benefits-received