Who of the following would be considered a discouraged worker?
A. Marissa has a Ph.D. in physics, but is currently employed full time driving a taxi.
B. Anna Marie has been looking for a job every day for the last month, but has not been hired.
C. Ray wants to work forty hours per week, but can only find work for twenty hours per week.
D. Frank would like to work, but has not looked for work because he believes no jobs are available.
Answer: D
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About what percentage of U.S. output was exported to foreigners in 2012?
A) 1% B) 14% C) 18% D) 25%
Define consumer surplus. Using a graph, explain the change in consumer surplus that would result from a decrease in the price of a gasoline.
Refer to Figure 6.8.
What will be an ideal response?
What is meant by the term "inflation targeting"? What is the Fed's objective regarding inflation?
What will be an ideal response?
If the demand for softballs increases, one could expect the demand for leather to increase. This is attributable to the
A. opportunity cost of producing softballs. B. marginal productivity principle. C. reduction in the cost of production of softballs. D. derived demand for an input.