Suppose that Mel (who is 27 ) is not working, but looked for a job as recently as 2 months ago. Mel would like a job and he is available for work. He is considered
A) unemployed.
B) a member of the labor force and unemployed.
C) a member of the labor force, but not unemployed.
D) a member of the working-age population
E) a marginally attached worker.
E
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Which of the following is an outcome of high and variable inflation?
a. Incentives in the economy to adjust in response to changes in prices are stronger. b. Penalties in the economy to adjust in response to changes in prices are weaker. c. Penalties in the economy to adjust in response to changes in prices are weaker. d. Incentives in the economy to adjust in response to changes in prices are weaker.
Markets fail to allocate resources efficiently when
a. prices fluctuate. b. people who have property rights abuse their privileges. c. property rights are poorly enforced or not well established. d. the government refuses to intervene in private markets.
If the United States' price level is below the world price level, all of the following would be successful in raising the world price (supply) level except:
A. wages in the United States falling. B. the value of U.S. assets falling. C. the dollar appreciating. D. the United States gaining a comparative advantage.
A lag occurs in monetary policy because:
A. it takes time to implement a policy. B. once policy is implemented, it takes time for a policy to work. C. Republicans and Democrats fight over every policy. D. both it takes time to implement a policy and once policy is implemented, it takes time for a policy to work are true.