The official unemployment rate may not reflect the true state of unemployment because:
a. Some workers may go through the motions of looking for work to keep their unemployment benefits, but not actually be looking for work.
b. Some people who are working in the underground economy may be classified as unemployed
c. Some may leave the labor force and go back to school only because job conditions are currently poor.
d. all of the above.
d
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The BP schedule shows the combinations of the interest rate and income
a. that clear the goods market. b. that leads to equilibrium in the balance of payments. c. that equate supply and demand in the foreign exchange market at a given exchange rate. d. and is always positively sloped. e. both b and d.
If a firm's rent increases, it will affect its cost structure in which of the following ways?
A) AVC will increase. B) MC will increase. C) TFC will increase. D) All of the above will increase.
If a firm collects $90 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $105 in revenue when it sells 6 units, then one can infer the firm is a:
A. price taker. B. monopolist. C. profit maximizer. D. perfect competitor.
How is it possible for the economy to have a recessionary gap?
A. Equilibrium is at a GDP level below full employment. B. Equilibrium is at a GDP level equal to full employment. C. Equilibrium is at a GDP level above full employment. D. GDP is rising at full employment. E. GDP is falling at full employment.