The measure of GDP is
A. Horizontally focused.
B. Vertically focused.
C. Globally focused.
D. Geographically focused.
Answer: D
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Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods. B) Firms are the suppliers in the market for labor as well as the market for consumer goods. C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods. D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.
When the slope of the total production curve steepens, it means:
A. the marginal product must be increasing. B. the marginal product must be decreasing. C. diminishing marginal product must hold. D. None of these is true.
Someone was just laid off from a job. Given what you know about the unequal distribution of civilian unemployment, to which of the following groups does this person most likely belong?
A. white male with a bachelor's degree B. African American female with a bachelor's degree C. Hispanic female with a high school diploma D. African American male teenager with less than a high school diploma
Which of the following is NOT an argument against free trade?
A) infant-industry argument B) protecting domestic job argument C) countering foreign subsidies argument D) comparative advantage argument