The official unemployment rate may not reflect the true state of unemployment because:
a. part-time employees who want to work more hours are treated the same statistically as those who hold full-time jobs.
b. some individuals who want to work may become discouraged and cease actively looking for work
c. workers laid off from their jobs and looking for new ones are not counted among the unemployed.
d. (a) and (b) only.
d
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If labor and capital are perfect complements in production, short run supply curves are vertical.
Answer the following statement true (T) or false (F)
Gene's Car Wash is a natural monopoly. To wash 100 cars a week, if Gene is unregulated, he would charge a price of $10. Gene's long-run average cost for washing 100 cars is $8, his average variable cost is $6, and his marginal cost is constant at $4
If Gene was regulated using a marginal cost pricing rule, the price he would be allowed to charge to wash 100 cars is A) $10. B) $8. C) $6. D) $4.
A central bank ________ of domestic currency and corresponding ________ of foreign assets in the foreign exchange market leads to an equal increase in its international reserves and the monetary base, everything else held constant
A) sale; purchase B) sale; sale C) purchase; sale D) purchase; purchase
U.S. cotton production
a. remained concentrated in Georgia and South Carolina until after 1860. b. was unable to compete with wool production in the antebellum textile industry. c. accounted for more than half of the dollar value of US exports between 1800 and 1850. d. faced declining world demand for most of the antebellum period.