With 125 million people working, 8 million out of work and looking for work, and 147 million neither working nor looking for work, "underemployment" would be illustrated by
A. part of the 125 million holding part-time jobs when they were qualified for full-time jobs.
B. 125 million losing their jobs.
C. 8 million ending their search for work.
D. part of the 125 million holding part-time jobs when they were qualified for only part-time jobs.
Answer: A
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Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of prosperity when incomes grow rapidly
What type of industry would be the best for you to find employment if this prediction is correct? An industry that produces a product that is A) income elastic. B) income inelastic. C) inferior. D) a substitute good. E) none of these industries
If the exchange rate is defined as the price of the foreign currency in terms of the domestic currency, an increase in the exchange rate:
a. increases domestic demand for foreign goods. b. makes domestic goods cheaper in the foreign markets. c. lowers net exports. d. lowers aggregate expenditure on domestic goods. e. increases the domestic country's external debt burden.
A tax on the buyers of cameras encourages
a. sellers to supply a smaller quantity at every price. b. buyers to demand a smaller quantity at every price. c. sellers to supply a larger quantity at every price. d. Both a) and b) are correct.
If the CPI in year 2 equals 110 and the CPI in year 3 equals 121, it can be concluded that consumer prices:
A. rose from year 2 to year 3 by 21 percent. B. rose from year 2 to year 3 by 10 percent. C. are the same in year 2 as in the base year. D. rose from year 2 to year 3 by 11 percent.