The term “recession” refers to a
a. period of decline in real GDP over two consecutive quarters.
b. fall in the general level of real wages over two consecutive quarters.
c. fall in the CPI over two consecutive quarters.
d. fall in the rate of increase of real per capita GDP.
a. period of decline in real GDP over two consecutive quarters.
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If lenders refuse to state the debt in terms of dollars, then dollars are not a
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
Which of the following statements is correct?
a. The human-capital theory of education could be called a productivity-enhancing theory. b. The human-capital theory of education could be called a productivity-revealing theory. c. The signaling theory of education could be called a productivity-enhancing theory. d. The signaling theory of education has been disproven by a number of prominent economists.
Which of the following is true if equilibrium is present in a market?
a. Quantity demanded equals quantity supplied. b. Quantity supplied exceeds quantity demanded. c. There is generally either a shortage or a surplus. d. Quantity demanded exceeds quantity supplied.
Sonia was a great bookkeeper 20 years ago, then left the workforce to stay home and raise her children. Now that they're in college, Sonia looks for another bookkeeping job, but they all require computer skills that she doesn't have. Sonia would be considered:
A. frictionally unemployed. B. seasonally unemployed. C. structurally unemployed. D. Sonia is not in the labor force.