The labor force is the sum of
A) employed workers and discouraged workers.
B) employed workers and unemployed workers.
C) employed workers and individuals not looking for work.
D) unemployed workers and the working-age population.
Answer: B
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An art museum decides to offer tours by having visitors listen to cassette tapes rather than have tour guides. The museum is answering the ________ part of one of the two big economic questions
A) "scarcity" B) "what" C) "why" D) "how"
If there is an exogenous increase in investment spending, Monetarists argue that there would be little or no effect on real output because the interest rate would __________,
investment would __________, saving would __________, and consumption would __________. A) decline; increase; increase; decrease B) decline; increase; decrease; increase C) rise; decrease; decrease; increase D) rise; decrease; increase; decrease
If a plaintiff believes there is a 30 percent chance they will win $200,000, a 40 percent chance they will win 100,000, and a 30 percent chance they will win nothing (zero), and the litigation cost is $50,000, what is the expected value of the litigation for the plaintiff?
A) $50,000 B) $100,000 C) $60,000 D) $125,000
Which of the following is an argument for globalization?
a. Poor countries compete for multinational firms by allowing lax environmental standards. b. Multinational firms tend to pay lower wages than local firms. c. The benefits of globalization to all consumers greatly outweigh the loss of jobs to international competition. d. Removal of restrictions against agricultural products would cause workers in rich countries to lose their jobs. e. The increased integration of the world's economies has been associated with lax environmental and labor standards in most countries.