Which of the following is a common way of measuring the average standard of living?
a. The unemployment rate plus the inflation rate
b. Real GDP divided by the price level
c. The unemployment rate multiplied by the population
d. Real GDP divided by the population
e. Inflation rate divided by the population
D
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Part-time workers are defined as people who are working
A) less than 20 hours per week. B) between 20 and 35 hours per week. C) less than 35 hours per week. D) more than 10 hours per week. E) fewer hours than they would want.
Member commercial banks have purchased stock in their district Fed banks; the dividend paid by that stock is limited by law to ________ percent annually
A) four B) five C) six D) eight
Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. If Leo values income and not the source of the income, then if he can only earn $400 he will choose to:
A. not work and accept the benefits. B. work. C. not work and refuse the benefits. D. work part time.
The main objective of the members of a cartel is to
A. produce efficiently. B. make the industry more competitive. C. obtain a patent. D. earn economic profits.