John Steinbeck's Cannery Row describes a character who takes his own life because of poor job prospects. If he was an unemployed person who gave up looking for work, he would be considered:
a. chronically unemployed.
b. a discouraged worker.
c. a member of the labor force.
d. frictionally unemployed.
b
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Which of the following is a lagging indicator?
a. Outstanding commercial loans. b. Duration of unemployment. c. Prime rate. d. All of these.
Fannie Mae and Freddie Mac's dominance of the secondary mortgage market during 1995-2008 encouraged mortgage originators to
a. extend only 30-year, fixed-rate mortgages. b. require higher down payments in order to obtain a home mortgage. c. loosen lending standards as long as the mortgages were acceptable to Fannie Mae and Freddie Mac. d. scrutinize the credit-worthiness of borrowers more carefully.
If the demand curve for a single price monopolist always is a downward sloping straight line, then marginal revenue will be
A. a horizontal line. B. a straight line with a negative slope of one-half the demand curve slope. C. identical to the demand curve. D. a straight line with a negative slope of twice the demand curve slope.
Marginal utility of the second slice of pizza you eat is larger than the marginal utility of the first slice of pizza you eat.
a. true b. false