Which of the following would be classified as employed?
a. a full-time college student
b. a construction worker on layoff due to cold weather
c. a parent who works 50 to 60 hours per week caring for family members
d. a worker who is in the midst of a two-week vacation from his regular job
D
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Resources can be purchased
A) exclusively through the government. B) in the product markets. C) in the factor markets. D) at a grocery store.
An increase in labor hours will lead to
A) a shift of the aggregate production function but no movement along it. B) a movement along the aggregate production function but no shift in it. C) both a movement along and a shift in the aggregate production function. D) neither a movement along nor a shift in the aggregate production function.
A nonlinear function
A) makes little sense, because variables in the real world are related linearly. B) can be adequately described by a straight line between the dependent variable and one of the explanatory variables. C) is a concept that only applies to the case of a single or two explanatory variables since you cannot draw a line in four dimensions. D) is a function with a slope that is not constant.
In the United States, the central bank is the:
A. Federal Reserve. B. Congressional Budgeting Office. C. Treasury. D. National Bank of the United States.