Whom does the Bureau of Labor Statistics include in the discouraged worker category?
a. those who are neither disabled, employed nor seeking employment
b. labor force members who have chosen early retirement because they dislike their work or think the pay is too low
c. people who tried unsuccessfully to find a job and aren't searching for a job any longer
d. members of the labor force who are looking for a job but cannot find one
e. anyone in the population who is not working
C
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The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $350 per month as the legal maximum rent, producer surplus
A) increases. B) decreases. C) stays the same. D) changes in a direction that cannot be determined from the information given.
Which of the following shows the relationship between national income (GDP) and total spending?
a. Demand schedule b. Consumption curve c. Expenditure schedule d. Balance schedule
Other things the same, if the exchange rate changes from 6 Chinese yuan per dollar to 7 Chinese yuan per dollar, then the dollar
a. appreciates and buys more Chinese goods. b. appreciates and buys fewer Chinese goods. c. depreciates and buys more Chinese goods. d. depreciates and buys fewer Chinese goods.
A shortage occurs whenever
a. quantity demanded exceeds quantity supplied at the equilibrium price. b. price is less than equilibrium price. c. quantity demanded is less than quantity supplied. d. goods are scarce. e. some of the people who need the product are not willing and able to buy it at the equilibrium price.