Wayne did not look for another job after he lost his current job. As a result the
A. labor force immediately decreased.
B. unemployment rate remains constant for as long as he does not look for another job.
C. labor force increased.
D. unemployment rate eventually decreased.
Answer: D
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Refer to the scenario above. Which of the following will be true if Alice stops the auction at $30,000?
A) She will earn zero consumer surplus. B) She will earn a consumer surplus of $5,000. C) She will earn a consumer surplus of $30,000. D) She will earn a consumer surplus of $16,000.
Given the values in the table above, equilibrium output Y = ________ when the real interest rate r = 4
A) 26.6 B) 0.65 C) 14.6 D) 5.65 E) none of the above
Which of the following would be included in the expenditures approach to calculating U.S. GDP?
a. Wage and salary payments to U.S. workers b. Interest paid on borrowed funds c. Government payments of social security benefits d. Purchases of new trucks by Federal Express e. Wage payments to U.S. citizens working outside the U.S.
When the court requires evidence that a monopoly actually used its size to violate antitrust laws, this criterion is called
a. rule of reason b. Sherman antitrust c. per se d. countervailing power e. creative destruction