An unpaid worker in a family business is classified as
A) not in the labor force.
B) employed no matter how many hours the person worked in the previous week.
C) unemployed no matter how many hours the person worked in the previous week.
D) employed if the person worked at least 15 hours in the previous week.
E) unemployed only if the person worked no hours in the previous week.
D
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Checks are NOT money because they
A) are issued by banks, not by the government. B) are merely instructions to transfer money. C) have value in exchange but little intrinsic value. D) are not backed by either gold or silver.
The Bretton Woods system lasted from
A) 1801 to 1861. B) 1863 to 1914. C) 1945 to 1971. D) 1981 to 1993.
A perfectly competitive firm has no influence over price because: a. its output is insignificant relative to the market as a whole. b. antitrust laws constrain perfectly competitive firms
c. consumers establish the prices of products. d. it is unaware of the demand curve it faces.
Which one of the following will shift the Israeli consumption curve upward?
a. higher interest rates in Israel b. an increase in real assets in Israel c. expectations of future Israeli economic growth d. lower capacity utilization rates in Israel e. a tax increase in Israel