Which of the following people is counted in the labor force?
a. Len Waxman, who lost his job and last looked for work three months ago
b. Bob Bandeen, who holds an MBA in management but can only find part-time employment at a fast-food restaurant
c. Phil Esposito, who would like to work as a stockbroker but is now a househusband
d. Michael Curtis, who has schemes of getting rich but has never worked in his life, nor plans to
e. Bedonna Zack, age 90, who is enjoying her retirement in Montana
B
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Many economists ________ protectionism because it ________ consumers and ________ jobs in domestic industries that use protected products
A) support; benefits; creates B) criticize; unfairly rewards; relocates C) criticize; causes losses to; eliminates D) support; lowers prices for; raises wages for
The long run significance of investment is due to
a) its volatility b) the importance of capital to economic growth c) the effect of income on investment d) the procyclical nature of investment e) its ability to crowd-out government expenditures
You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively. You decide to open a hardware store. The opportunity cost of using this building for a hardware store is
A. $3,000, the value if the building is used as a craft store. B. $2,000, the value if the building is used as a cafe. C. $10,000, the sum of the values if the building is used for a cafe, a craft store, or a bookstore. D. $5,000, the value if you rented the building to someone else to use as a bookstore.
Which of the following is a bank asset?
A. CDs B. Demand deposits C. Mortgage loans D. Borrowings from other banks