The unemployment rate is the percentage of the civilian labor force that is unemployed but actively seeking work
a. True
b. False
Indicate whether the statement is true or false
True
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Deciding if a power company will generate electricity from wind power or coal answers the economic question of
A) what products will be produced. B) where will the products be consumed. C) who consumes the products produced. D) how will the products be produced.
Households make their savings available to borrowers through
a. resource markets b. the loanable funds market c. the labor market d. the taxes e. spending
Independent unions:
A. have greater combined membership than the AFL-CIO. B. are not affiliated with the AFL-CIO or Change to Win. C. include the United Autoworkers and United Steelworkers. D. have about the same combined membership as the AFL-CIO.
David Ricardo used the example of land to demonstrate the concept of rent, as the supply of land is
A) perfectly elastic. B) relatively elastic. C) perfectly inelastic. D) negatively sloped.