The president of the United States promises that the nation's economy will simultaneously produce more defense goods without any decreases in the production of other goods. Under which of the following conditions could such a promise be valid?
A. if the United States were producing inside its production possibilities curve
B. if the United States were producing at a point on its production possibilities curve
C. if the United States were producing to the right of its production possibilities curve
D. None of these; the production possibilities curve must shift to the right.
Answer: A
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A person 16 years or older who does not work, but is actively looking for work, is officially classified as:
A. unemployed. B. employed. C. chronically unemployed. D. out of the labor force.
An acquisition will not be profitable
a. In any circumstances b. As long as you paid lower than the company's discounted future profits c. Without a synergy that makes the company more valuable to you than to the current owner d. None of the above
Which statement is true?
A. Employment discrimination plays virtually no role in determining the distribution of income. B. Training, education, and intelligence play a very large role in determining the distribution of income. C. In our society, it's basically who you know, rather than what you know that determines the distribution of income. D. None of these statements are true.
Refer to Exhibit 6-2. How many persons are not participating in the labor force in year 3?
a. 50 million b. 100 million c. 150 million d. 350 million e. 400 million