To be counted in the labor force
A) a person has to be working at least 40 hours per week.
B) a person has to be at least 16 or older, have a job, or if unemployed has to be actively seeking employment.
C) a person, irrespective of his or her age, has to be working or, if out of work, actively seeking employment.
D) a person has to be over 16 years of age, irrespective of whether she or he is actively seeking work.
B
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The growth rate in potential GDP is equal to the growth rate in the population.
Answer the following statement true (T) or false (F)
The ATC rises whenever the
a. upward pull of the AVC is greater than the downward pull of the AFC. b. upward pull of the AFC is greater than the downward pull of the AVC. c. AVC is equal to the AFC. d. MC is above the AVC.
Crowding out is when government borrowing and spending result in __________ interest rates, which reduces business investment and household consumption.
a. flat b. higher c. lower d. reduced
A monopolist does not have a supply curve because the firm's decision about how much to supply is impossible to separate from the demand curve it faces
a. True b. False Indicate whether the statement is true or false