A person who quits working because of a variety of excuses such as "unbearable office politics" or "difficulty to work in that environment" is described as being part of
a. discouraged workers
b. counterfeit unemployment
c. the underemployed
d. displaced unemployment
e. frictional unemployment
B
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Suppose a 10 percent increase in the price of textbooks decreases the quantity demanded by 20 percent. The elasticity of demand for textbooks is
A) 0.2. B) 2.0. C) 5.0. D) 10.0.
Suppose that Y = 4,000 and we are at a point on the money demand schedule where (M/P) = 600. Should Y rise to 4,200, the same quantity of real money balances
A) will not be demanded under any conditions. B) will be demanded again provided the interest rate does not change. C) will be demanded again provided the interest rate rises by a certain amount. D) will be demanded again provided the interest rate falls by a certain amount.
If a drug company creates a new drug designed to treat common seasonal allergies is approved by the U.S. Food and Drug Association (FDA), which means the drug can be marketed and sold in the U.S., the approval by the FDA is an example of ________.
A) a trademark B) screening C) self-revelation D) a certification
The change in consumption divided by a change in income is defined as:
a. the marginal propensity to consume. b. autonomous consumption. c. the consumption function. d. Keynes' absolute income hypothesis. e. transitory consumption.