People who are currently not working but are actively looking for work are officially classified as:
A. unemployed and in the labor force.
B. unemployed and out of the labor force.
C. employed and in the labor force.
D. employed and out of the labor force.
Answer: A
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Johnny has allocated $30 toward coffee and tea and feels that coffee and tea are perfect substitutes. Due to differences in caffeine levels, his MRS of tea for coffee equals 2. If coffee and tea sell for the same price, Johnny will
A) spend all $30 on tea. B) spend all $30 on coffee. C) spend $20 on coffee and $10 on tea. D) be indifferent between any bundle of coffee and tea costing $30.
Among the most important indicators used by the NBER Business Cycle Dating Committee to determine the beginning of the 2007-2009 recession were all of the following except:
A. industrial production. B. total sales in manufacturing, wholesale trade, and retail trade. C. nonfarm employment. D. the consumer price index.
A consumption possibilities curve shows the combinations of two goods that can be consumed when a nation specializes in producing a particular good and trades with another nation
Indicate whether the statement is true or false
Eurocurrency activities take place only in Europe
Indicate whether the statement is true or false