Who from among the following would be classified as unemployed?
A. Sarah Lopez, a retired public school teacher
B. Jack Little, a 21 year old new college graduate actively looking for his first job
C. Brenda Smith, an 18 year old full-time college student
D. Mario Faubert, a NHL hockey player at home sick with the flu
Answer: B
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Which of the following factors could cause the economy to experience supply-side inflation?
A) increased security about jobs and future income B) Develop new technology to increase productivity. C) government laws which say that the average work week must be reduced by one hour every year D) Increase the number of immigrants allowed into the country.
In the United States, currency includes
A) paper money and coins in circulation. B) checking and savings account deposits. C) gold, silver, and paper money. D) traveler's checks.
Zero elasticity in either a supply or demand curve occurs when a price change of one percent results in a quantity change of one percent.
Select whether the statement is true or false. A. True B. False
An increase in the Consumer Price Index indicates that
a. the real income of households is increasing. b. the purchasing power of the dollar is increasing. c. the cost of buying the typical bundle of goods consumed by households is increasing. d. the real net worth of consumers is increasing.