Which of the following is the growth rate of the standard of living?
A) y - q
B) y - n
C) y - a
D) y - b
A
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Professor I.M. Dismal retired from his economics faculty position at the age of 66. Is he now unemployed?
A) No, because he is retired. B) No, because he is over the age of 65. C) Yes, because he is not employed. D) Yes, if he is looking for some other job.
The New York Times reported in November 2008 that 240,000 additional people lost their jobs which increased the unemployment rate to 6.5 percent
In addition, it was noted that a large number of college graduates were "taking jobs that do not require a college degree." It was also expected that "teens will be thrown out of the labor market....causing youths to miss experience" that could help them prepare for higher-skilled jobs. The article reflects the idea that unemployment is a problem because it results in A) a loss of human capital. B) fewer discouraged workers. C) a loss of income. D) a decrease in the labor force.
Arguments in favor of a laissez-faire policy concerning government's role in the economy include the
a. need for price controls b. possibility of creative destruction c. gains from trade d. contestable nature of markets e. lack of countervailing power among the economic blocs in the economy
Movement along the aggregate supply curve is referred to as a change in aggregate quantity supplied
a. True b. False Indicate whether the statement is true or false