The population of individuals at least 16 years of age can be broken into 3 groups. They are
A. those employed full-time, those employed only part-time, and the unemployed.
B. the unemployed, discouraged workers, and retirees.
C. those working in the for-profit sector, those working in the nonprofit sector, and individuals who are unemployed.
D. none of these.
Answer: D
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In a perfectly competitive industry, the demand for a single firm's product is perfectly elastic
A) because this firm's output is a perfect substitute for any other firm's output. B) because this firm is a price maker. C) only in the long run. D) because there are many buyers in this market.
Technological advances shift the supply curve rightward
a. True b. False Indicate whether the statement is true or false
The random walk theory indicates that
a. investors can make money by purchasing stocks that are widely expected to earn substantial profits in the future. b. while changes in the prices of specific stocks are difficult to predict, experts are able to forecast the future direction of broad stock market indexes with a high degree of accuracy. c. changes in stock prices are driven by surprise occurrences that are difficult for anyone to predict accurately. d. managed mutual funds will persistently outperform indexed funds.
When the U.S. government purchases capital equipment, such as a computer, these expenditures are part of investment in GDP
a. True b. False Indicate whether the statement is true or false