Samantha recently quit her job at the university because she is looking for another job for which she is qualified in a small town. Samantha is
A. Frictionally unemployed.
B. Not part of the labor force and does not contribute to the unemployment rate.
C. Structurally unemployed.
D. A discouraged worker and is part of the unemployment statistic.
Answer: A
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Assume an economy produces only footballs and baseballs and the base year is 2005. Quantity producedPrices 2005200620052006Footballs200300$20$25Baseballs500600$10$15Given the data in the table above, what is the value of nominal GDP in 2006?
A. $10,000 B. $16,500 C. $12,000 D. $12,500
Which of the following is true?
A) Local governments cannot collect taxes in the U.S. B) Only state governments can collect taxes in the U.S. C) Only the federal government can collect taxes in the U.S. D) The central as well as the local governments collect taxes in the U.S.
The majority of the members of the U.S. Congress want to retain the so-called Fairness Doctrine as a control over television and radio broadcasters because
A) competition by itself cannot produce fairness. B) government oversight is required to assure equal time for conflicting points of view. C) television and radio are local monopolies to a large extent. D) the air waves belong to the public. E) the doctrine gives more power and influence to members of Congress.
"The line distinguishing external from internal goals can be fuzzy." Discuss
What will be an ideal response?