Which of the following transactions takes place in factor markets?
A) Henry receives a commission from his employer for selling a new automobile.
B) Jake purchases 1,000 shares of stock in the Wal-Mart Corporation through his online trading account.
C) Sam enters the winning bid on a grand piano at a local auction.
D) Justin receives $30 in exchange for mowing his neighbor's lawn.
E) Lucille receives a $500 check from the U.S. Social Security Administration.
A
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Which of the following would be an excellent example of a lumpy input
a. pancake griddles b. water c. labor d. corn e. pancake batter
Because financial markets clear, we know that leakages in the economy will equal injections and, therefore, there will be enough spending in the economy to purchase whatever amount of output level produced
a. True b. False
The ability of a firm to maintain a price above the competitive level without losing all its customers to rival firms is termed as ________
a. competition b. marginal cost pricing c. allocative efficiency d. market power
In calculating the unemployment rate, part-time workers are:
A. included in the labor force but not the unemployment rate. B. counted as unemployed because they are not working full time. C. counted as employed because they are receiving payment for work. D. excluded from the labor force because they are not actively seeking employment.