A discouraged worker might ________
A) be counted as unemployed
B) have tried to find a job during the month prior to the household survey, but without success
C) have been prevented from working during the week prior to the household survey, due to illness or other temporary circumstances
D) be waiting to return to a job from which he or she has been laid off
E) none of the above
E
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A seller's reservation price is generally equal to:
A. the seller's marginal cost. B. the market price. C. the buyer's reservation price. D. the seller's average cost.
John's utility of wealth curve is shown in the above figure. He currently has wealth of $20,000. If there is a 10 percent chance that he could lose all his wealth, what is his expected wealth?
A) $0 B) $2,000 C) $17,000 D) $18,000
According to the real-balance effect, an increase in the price level will
A) leave total planned real expenditures unchanged since the price level of all goods has increased. B) decrease total planned real expenditures because of an increase in interest rates. C) lead to a corresponding increase in total planned real expenditures since businesses are now earning higher profits. D) decrease total planned real expenditures as a result of a decrease in the real value of money balances.
An annually balanced budget: a. is the surest path to economic stability
b. is required by the U.S. Constitution. c. dampens cyclical swings by decreasing government spending during expansions and increasing it during recessions. d. accentuates cyclical swings by increasing government spending during expansions and reducing it during recessions. e. is a goal that has only been achieved twice in the past 5 years.