The underground economy includes
A. babysitters paid in cash.
B. landscapers.
C. self-employed workers.
D. babysitters on a payroll.
Answer: A
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A market with more than one seller and significant barriers to entry is called
a. perfect competition b. monopolistic competition c. an oligopoly d. collusive e. regulated
Suppose that Mark and Kate are the only consumers of pizzas in a small town. Mark purchases 6 pizzas a week if the price is $12.00 per pizza, but only 3 pizzas per week if the price is $16.00 . Kate, on the other hand, purchases 3 pizzas per week at $12.00 per pizza, but only 2 per week if the price is $17.00 each. The market demand for pizza at a price of $12.00 is equal to _____
a. 5 b. 7 c. 14 d. 9
There is an exchange rate between
a. every pair of currencies. b. the world's major currencies but not between the currencies of less-developed countries. c. currencies on a fixed-exchange rate system but not for those on a floating-rate system. d. the currencies of the European Union but not for the nations outside the European Union.
If the price of inputs rises and foreign income rises:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls, and aggregate supply rises. d. Aggregate demand and aggregate supply rise. e. Aggregate demand and aggregate supply fall.