Individuals who have stopped looking for work because they are convinced that they will not find a job are considered
A) discouraged workers. B) part of the labor force.
C) structurally unemployed. D) underemployed.
A
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Fiscal policy is impotent when the LM curve is
A) vertical. B) horizontal. C) downward-sloping. D) horizontal or downward-sloping.
Which of the following would be considered a negative real supply shock?
A) a relaxation of government environmental regulations B) a permanent increase in the price of energy C) a decrease in the money supply D) a decrease in aggregate demand
The term Production Function refers to the
A) use of machinery and equipment in production. B) relationship between costs and output. C) relationship between inputs and output. D) role of labor unions.
Sweet Husks is a perfectly competitive corn farm. Currently, the expected price of an ear of corn is $0.40 and, at its current production level, Sweet Husks has a marginal cost of $.30 per ear. The expected profit from producing an additional ear of corn is ________.
A) $0.10 B) $0.70 C) $0.20 D) $0.40