Who of the following would necessarily be included in the Bureau of Labor Statistics' "unemployed" category?
a. Huey, who did not work during the previous four weeks
b. Dewey, who tried to find new employment during the previous four weeks
c. Louie, who was an unpaid worker during the previous four weeks
d. None of the above is correct.
d
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Refer to above Table 2-1. What is the level of National Income?
A) 2630 B) 2420 C) 2660 D) 2430
If the rate of inflation is 5 percent and the real interest rate is 3 percent, the nominal interest rate should be
A) 1 percent. B) 2 percent. C) 8 percent. D) -2 percent.
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
People who enjoy the benefits of a public good without paying for them are called:
A. spillover parties. B. external consumers. C. free riders. D. antitrust violators.