Discouraged workers are included in labor force figures, but not in unemployment figures
a. True
b. False
Indicate whether the statement is true or false
False
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In economics, cost is measured as ________, and benefit is measured as ________
A) what you are willing to pay on the margin; what the government pays you when you are unemployed or retired B) the amount of money that you pay on the margin; the amount of money that you receive on the margin C) what you must give up to get something; what you are willing to give up to get it D) the amount of money that you pay for something; the amount of money that someone else is willing to pay you E) what you are willing to give up to get it; what you must give up to get something
The ________ of a future payment is the amount of money that would need to be invested today to produce the future payments
A) implicit value B) explicit value C) present value D) real value
Examination of data since 1953 indicates that during this period stretching more than half a century, the Phillips curve
A) fails to exist. B) is smoothly upward sloping. C) is smoothly downward sloping. D) slopes smoothly upward at first but then slopes smoothly downward.
The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists that see the decline in the middle class as a cause of declining growth argue
A. the middle class is responsible for most of the investment dollars available. B. that middle-class is generated by growth and without it, there are fewer middle-class jobs. C. the middle class is responsible for buying a high portion of the goods and services produced. D. if the poor can't afford goods, less will be produced.