Who of the following are included in the Bureau of Labor Statistics' "employed" category?
a. certain unpaid workers
b. part-time workers
c. workers on vacation
d. All of the above are correct.
d
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Will a large increase in the demand for a good cause a large increase in its price?
A) No; an increased demand is associated with lower prices. B) Not if the demand for the good is highly elastic. C) Not if the demand for the good is highly inelastic. D) Not if the supply of the good is highly elastic. E) Not if the supply of the good is highly inelastic.
Since 1946, the president of the United States has received guidance from a group comprised of three members and a staff of a few dozen economists known as the
A plumber quits his job in Dallas and moves to San Francisco where additional plumbers are needed, but it takes a couple of months for him to find a job. He is said to be:
A. Frictionally unemployed B. Structurally unemployed C. Cyclical unemployed D. Underemployed
With specialization
A. there are greater gains in material well being. B. society is more productive while individuals are less productive. C. there is more emphasis on self-reliance. D. opportunity costs tend to be constant.