Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor Statistics counts Gwen as
a. unemployed and in the labor force.
b. unemployed and not in the labor force.
c. employed and in the labor force.
d. employed and not in the labor force.
c
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According to this Application, some economists believe that recessions which are caused by ________ normally have ________ recoveries
A) high oil prices; faster B) financial crises; faster C) high oil prices; slower D) financial crises; slower
Entrepreneurship is typically identified with which of the following?
a. professionalism and dedication b. risk-taking and creativity c. impulsiveness and leadership d. organization and sense of humor e. boring and rich
Explain the concept of 'lender of last resort'. What is discount rate?
Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes in the market are lemons (low quality), what fraction of used bikes sold will actually be lemons (low quality)?
A. 8/30 B. 22/30 C. 8/22 D. 30/30