A firm's opportunity cost of using resources provided by the firm's owners is called:
a. sunk costs.
b. fixed costs.
c. explicit costs.
d. implicit costs.
e. entrepreneurial costs.
d
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A headline states: "Real GDP falls again as the economy slumps." This condition is most likely to produce what type of unemployment?
A. natural B. frictional C. structural D. cyclical
The interest-rate-based approach to the monetary policy transmission mechanism says that a change in the money supply influences aggregate demand by
A) a change in interest rates, which changes investment. B) a change in interest rates, which changes the money supply. C) leading to shifts of the short-run aggregate supply curve. D) changing consumer consumption behavior as they adjust to a change in the number of dollars available.
New entrants to the labor force usually account for around ________ percent of the unemployed
A) ten B) twenty C) twenty-five D) thirty
Which of the following types of income are subject to FICA taxes?
A. Capital gains B. Tips C. Interest income D. Inheritance