Camila is a homemaker. Last week, she was busy with her normal household activities. How would the Bureau of Labor Statistics classify her?
a. A member of the civilian labor force who is employed.
b. A member of the civilian labor force who is unemployed.
c. A member of the civilian labor force who is underemployed.
d. A discouraged worker who is not a member of the labor force.
e. Not a member of the labor force.
E
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Suppose that firms are paying their "efficiency wage" rate and AD shifts leftward. Firms that lower wages and maintain production would
A) achieve lower profits since worker efficiency would fall and total wages paid increase. B) achieve lower profits since worker efficiency would fall and wages per unit of output increase. C) achieve higher profits. D) achieve lower per unit wage costs.
In scientific language, a theory is an untested assertion of alleged fact
a. True b. False Indicate whether the statement is true or false
Jane has noticed that she used to pay $2.75 for a hamburger and now she pays $3.0. Which of the following statements is TRUE?
A. The law of supply explains why the price of hamburgers has increased. B. The money price of hamburgers has increased. C. Jane will stop consuming hamburgers. D. The relative price of hamburgers has increased compared to hotdogs.
Kedran is indifferent between option A, which gives her $10,000 for sure, and option B, which gives her $5,000 with probability 0.4 or $15,000 with probability 0.6. Kedran's cost of risk for option B is
A) zero. B) $1,000. C) $5,000. D) $10,000.