If KeKe, age 32, worked 12 hours as a paid employee the week before the Current Population Survey, KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate
A) a discouraged worker
B) employed
C) underemployed
D) not in the labor force
E) unemployed
B
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Which of the following is NOT an example of transactions costs?
A) high interest rates B) lawyers' fees C) brokerage commissions D) minimum investment requirements
According to the law of demand, when will higher corn prices reduce the quantity demanded of corn?
a. Always. b. When the supply of corn is fixed. c. When nonprice determinants, like income and the number of buyers, are unchanged. d. When there are no shortages or surpluses of corn.
The concurrent problems of inflation and unemployment are termed:
a. depression. b. downturn. c. deflation. d. demand-pull inflation. e. stagflation.
As the large baby-boom generation moves into the retirement phase of life, this will
a. make it easier for the federal government to finance its budget deficit because the baby-boomers will be the wealthiest generation of retirees in American history. b. make it easier for the federal government to reduce spending because senior citizens do not spend much on consumption. c. make it more difficult for the federal government to finance its budget deficit because the retirement of the baby-boomers will mean more expenditures for Social Security and Medicare. d. not affect the federal deficit because there is no reason to expect that either federal spending or tax revenues will be influenced by the retirement of the baby-boomers.