Overtime worked by a JCPenney associate is considered ________ and earns ________
A) labor; wages
B) entrepreneurship; profit
C) human capital; interest
D) labor; profit
A
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Where does the short-run Phillips curve intersect the long-run Phillips curve?
A) at the point where actual inflation is equal to expected inflation B) at the point where the rate of inflation and the unemployment rate are equal C) at the natural rate of inflation D) There is no intersection between the short-run and long-run Phillips curves.
Which view of the causes of the Great Depression emphasizes factors largely external to the domestic economy, particularly the Gold Standard?
(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View
All of the following are example of entry barriers, except
a. Government protection through patents or licensing requirements b. Strong brands c. Low capital requirements for entry d. Lower costs driven by economies of scale
Someone 18 years old who is not employed and is not actively seeking work is considered
A. In the labor force. B. Not in the labor force. C. Unemployed. D. Employed.