The unemployed are those people who
A. are not employed but are seeking work.
B. are not working.
C. are not in the workforce.
D. do not have jobs.
Answer: A
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The law-making time lag is best described as the time that it takes
A) a jury to render a verdict. B) Congress to realize that new laws must be passed to change taxes or spending. C) the President to sign a bill sent from Congress. D) a newly passed law to become the norm in daily lives. E) Congress to pass laws needed to change taxes or spending.
Entrepreneurship refers to
What will be an ideal response?
The process of entry and exit into a monopolistically competitive market continues until:
A. profits are positive. B. profits are zero. C. profits are negative. D. Any of these statements could be true.
The law of demand
A. is only an assumption that cannot be tested. B. does not apply to scarce goods. C. only applies to necessities, not luxuries. D. is consistent with human behavior in the world.