Discouraged workers are officially
A. unemployed.
B. employed.
C. not in the labor force.
D. in the labor force.
C. not in the labor force.
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Which of the following would be considered consumption?
A. Doris bought a new van for her delivery business. B. Mike was renting an apartment, but has now built a new house. C. Sid works for the Bureau of Motor Vehicles. He just bought a new flat screen TV for people to watch while waiting to be served. D. Tina replaced the old water heater in her house with a new one that is more energy efficient.
According to the short-run Phillips curve, which of the following would result in high rates of unemployment?
A) strong increases in aggregate demand B) strong increases in aggregate supply C) a higher inflation rate D) a lower inflation rate
On the farm, which of the following people had the highest labor value?
(a) A woman (b) A man (c) A child (d) A grandparent
One major reason that economists are concerned about unemployment is that
A) unemployment always leads to frictional unemployment. B) unemployment reduces the size of the labor force. C) unemployment shifts the production possibilities curve outward. D) the economy is producing less output than if there were full employment.