Consider an economy made up of 100 people sixteen years of age and older, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the labor force is _____
a. 30
b. 60
c. 85
d. 90
e. 70
e
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In? 2003, China's control of the value of the yuan became an economic and political issue for the U.S.? because:
A) increased U.S. exports to China. B) decreased U.S. exports to China. C) increased China imports from the U.S. D) none of the above.
Refer to Table below. Given the consumption schedule in the table above, the marginal propensity to save is
Consumption (dollars) $1,200 2,100 3,000 Disposable Income (dollars) $3,000 4,000 5,000 a. 0.1. b. 0.4. c. 0.7. d. 0.9.
A firm that maximizes profits also
A) is inefficient. B) cuts corners in production processes so that its products are made too cheaply. C) uses the least-cost combination of resources. D) pays input prices lower than other firms do.
An increase in the production of capital goods and a reduction in the production of consumer goods would most likely lead to a faster rate of future economic growth
a. True b. False Indicate whether the statement is true or false