An unemployed person is
A. one who is eligible to work but chooses not to work.
B. one who is not working.
C. a person without a job who is actively seeking and available for work.
D. one who can only find jobs that are below his abilities.
Ans: C. a person without a job who is actively seeking and available for work.
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The Phillips curve fails to provide a consistent explanation for macroeconomic performance in the United States in the 1960s
a. True b. False Indicate whether the statement is true or false
If there is a surplus in the market for loanable funds, the resulting change in the real interest rate
a. reduces both the quantity of loanable funds supplied and the quantity of loanable funds demanded. b. reduces the quantity of loanable funds supplied and raises the quantity of loanable funds demanded c. raises both the quantity of loanable funds supplied and the quantity of loanable funds demanded. d. raises the quantity of loanable funds supplied and reduces the quantity of loanable funds demanded.
The four determinants of demand that are held constant when we consider a movement along a demand curve include all of the following except
A. Tastes. B. Income. C. Availability and price of substitute goods. D. Price.
If ________, then a profit-maximizing, monopolistically competitive firm earns positive economic profits.
A. P = ATC B. P < ATC C. P > ATC D. All of the above are possible.