If real GDP is ________ than potential GDP, employment is ________ than its full-employment level and the unemployment rate rises ________ the natural unemployment rate
A) less; more; above
B) more; more; above
C) more; less; above
D) less; less; below
E) less; less; above
E
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Which of the following statements identifies a difference between optimization in levels and optimization in differences?
A) Optimization in levels compares only the costs of different alternatives, whereas optimization in differences compares only the benefits of different alternatives. B) Optimization in levels compares only the benefits from different alternatives, whereas optimization in differences compares only the costs of different alternatives. C) Optimization in levels calculates the net benefits of different alternatives, whereas optimization in differences calculates the change in net benefits when switching from one alternative to another. D) Optimization in levels calculates the change in net benefits when switching from one alternative to another, whereas optimization in differences calculates the net benefits of different alternatives.
Those individuals 16 years of age and over who are working in a job or actively seeking employment are called:
A) the labor force. B) the employed. C) the unemployed. D) none of the above.
When marginal utility is __________, total utility is __________.
A. positive; increasing B. zero; maximized C. negative; decreasing D. All of the choices are correct.
Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. Jason cannot afford the bundle represented by point
A. E. B. B. C. C. D. D.