Which of the following statements about the United States is (are) correct?
i. The labor force is larger than the number of employed people.
ii. The labor force is larger than the number of unemployed people.
iii. The number of unemployed people is larger than the number of employed people.
A) ii only
B) iii only
C) ii and iii
D) i and ii
E) i, ii, and iii
D
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Money today
A) is the demand for loanable funds. B) is the supply of loanable funds. C) is only currency inside banks. D) is fiat money. E) in the United States, is only dollar bills and coins.
(Consider This) Martha's Milkshake Company buys earthquake insurance from the Stable Ground Insurance Company. Based on this purchase, economists would conclude that:
A. Martha's believes a damaging earthquake is imminent. B. Stable Ground believes no damaging earthquakes will occur. C. Martha's has a lower tolerance for earthquake risk than Stable Ground. D. Martha's has a greater tolerance for earthquake risk than Stable Ground.
Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) increase. B) decrease. C) remain constant. D) not change in a way that can be predicted.
The quintessential example for the price of an input and its impact on an output is
A. corn and soybeans. B. hotdogs and hotdog buns. C. crude oil and gasoline. D. 7up and sprite.