Farmers as a group generally prefer bad weather to good weather because bad weather shifts the demand curve for their product rightward and raises the price of their product
Indicate whether the statement is true or false
False
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The percentage of the noninstitutionalized working-age individuals who are employed or seeking work is known as
A) the labor force. B) the labor force participation rate. C) discouraged worker. D) the stock of employed and unemployed workers.
Labor costs usually increase at an increasing rate at high levels of output for all of the following reasons except
a. labor productivity begins to decline b. the marginal gains from specialization decrease c. the price of labor rises as more workers are hired d. the workers hired later may not be as qualified e. fuel costs begin to increase as more output is produced
A good will tend to be more price elastic if it
a. is a luxury good. b. has no close substitutes. c. is a small part of the household budget. d. is a necessity.
The largest share of demand for loanable funds comes from the government that wants to borrow money for deficit financing
a. True b. False Indicate whether the statement is true or false