Which of the following statements is true about hidden unemployment?
a. Some people have only temporary jobs and are looking for permanent employment and are counted as employed, although they are not employed in the way they need to be.
b. Some people have only part time jobs and are looking for full-time employment and are counted as unemployed because they are not employed in the way they need to be.
c. Discouraged workers, those who have stopped looking for employment, are counted as unemployed.
d. Underemployed individuals, who are trained for one type of work but are working in a lower paying job or one that does not utilize their skills, are counted as unemployed.
a. Some people have only temporary jobs and are looking for permanent employment and are counted as employed, although they are not employed in the way they need to be.
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While most economists believe that Keynes was correct when he placed primary focus on aggregate demand manipulation to solve the recessionary gap of the Great Depression, supply-siders are critical of this focus, claiming that
A. Keynesian economics can only be successful if interest rates are allowed to rise. B. Keynesian economics diverted attention away from important factors such as work effort, labor productivity, and incentives to save and invest. C. the Great Depression was caused by the stock market crash of 1929, not a decline in aggregate demand. D. greater control of the way in which stocks and bonds were traded would have brought the economy out of the Great Depression.
Which of the following is true of Chow test?
A. It is a type of t test. B. It is a type of sign test. C. It is only valid under homoskedasticty. D. It is only valid under heteroskedasticity.
Suppose the demand for a product is lnQxd = 12 ? 3 ln Px. Then product x is:
A. unitary elastic. B. elastic. C. inelastic. D. It cannot be determined without more information.
Predatory pricing occurs when a monopolist charges a:
A. price above average total cost. B. price above average variable cost. C. low price to drive out competition, then charges a high price. D. high price to drive out competition, then charges a low price.