If the labor force is 320,000 and the total population 16 years of age or older is 400,000, the labor-force participation rate is
A. 72%.
B. 76%.
C. 80%.
D. 88%.
Answer: C
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In the simple Keynesian consumption function, consumption demand is
A) a function of disposable income alone. B) a function of disposable income and an autonomous component. C) simply an autonomous amount exogenous to the model. D) a function of the interest rate and an autonomous component. E) a function of the interest rate alone.
According to the text, which of the following is a principal reason why firms merge?
a. to form a cartel b. to exercise greater market control c. to increase their product differentiation d. to decrease their product differentiation e. to become a monopoly
If, at the current price, there is a shortage of a good, then
a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium. c. the price is below the equilibrium price. d. quantity demanded equals quantity supplied.