To be considered employed, a person must have worked at least __________ hour(s) during the previous week
a. 40
b. 20
c. 10
d. 12
e. 1
E
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The two basic ways to define money are
A) the transactions approach and the fiduciary approach. B) the transactions approach and the M1 approach. C) the transactions approach and the liquidity approach. D) the liquidity approach and the store of value approach.
Risk diversification refers to the process by which:
A. people organize themselves in a group to collectively absorb the cost of the risk faced by each individual. B. insurance companies change the risk aversion of their clients. C. risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual. D. insurance companies reallocate the likelihood of catastrophes happening.
The value of child-rearing and other household production are not included in GDP
a. True b. False Indicate whether the statement is true or false
As diseconomies of scale begin to outweigh the economies of scale,
A. the long-run average cost curve begins to slope upward. B. the long-run average cost curve begins to slope downward. C. the long-run average cost curve becomes horizontal and continues this way into infinity. D. the long-run average cost curve is unaffected.