Exclusion by the BLS of which of the following tends to understate the measure of unemployment in the economy?
a. children
b. retired persons
c. students
d. people who do not want to work
e. discouraged workers
E
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GDP will clearly increase if
A) the market value of illegal exchanges increases. B) the money supply increases. C) the market value of final goods and services increases. D) taxes increase.
Which of the following is NOT included in the measure of M1?
A) NOW accounts B) demand deposits C) currency D) savings deposits
The individual's budget constraint is _____
a. the amount of money she has in the bank b. determined by dividing the individuals income by the price of the goods she wants to buy c. the maximum amount one good she can consume given her consumption of other goods d. a line depicting all the possible budgets an individual could have at various occupations
Which of the following is the best definition of the labor force participation rate?
a. the number of people age 16 and over who are available for employment b. the percentage of the population age 16 and older who are willing and able to work but are unable to obtain a job c. the percentage of the working-age population in the labor force d. the percentage change in the employed level from one year to the next