That an increasing number of jobs that do not pay enough to subsist on is ____ theory of poverty.
A. a conservative
B. a liberal
C. both a liberal and a conservative
D. neither a liberal nor a conservative
B. a liberal
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Activities that go unreported to the government in order to avoid paying taxes or because the activity is illegal are known collectively as the
a. non-profit sector b. federal sector c. illegal economy d. special-interest category e. underground economy
If people eventually adjust their inflation expectations so that in the long run actual and expected inflation are the same, then policymakers
a. can not exploit a tradeoff between inflation and unemployment in either the short or long run. b. can exploit a tradeoff between inflation and unemployment in the short run but not in the long run. c. can exploit a tradeoff between inflation and unemployment in both the short run and the long run. d. can exploit a tradeoff between inflation and unemployment in the long run, but not the short run.
The supply curve shows the relationship between
A. the demand and supply schedules. B. price and quantity supplied. C. income and quantity supplied. D. quantity demanded and quantity supplied.
The opportunity costs associated with the use of resources owned by a firm are:
A. externalities. B. implicit costs. C. explicit costs. D. sunk costs.