Waiting for employment and "searching for employment" are both types of:
What will be an ideal response?
frictional unemployment
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The poverty rate of the elderly in the United States has
a. been constant since 1959 b. risen since 1959 because people are living longer c. fallen since 1959 because of the growth in Social Security and Medicare programs d. fallen since 1959 because of the growth in private retirement plans e. fallen since 1959, mainly because of inflation
Choosing to study for an exam until the extra benefit (e.g., improved score) equals the extra cost (e.g., the value of foregone activities) is:
A. an application of the Scarcity Principle. B. not an economic choice. C. not rational because it ignores the importance of total benefits and total costs. D. an application of the Cost-Benefit Principle.
Snowpeak Ski Resort offers a price for a lift ticket that is barely over its marginal cost, but the high equipment rental fee keeps generating big profits. Which pricing strategy is the management using?
A. Two-part pricing B. Commodity bundling C. Cross-subsidization D. Price discrimination
Recall the Application about intellectual property in GDP accounts to answer the following question(s).According to the Application, what was the effect on GDP of counting research and development and new artistic work as investment instead of intermediate inputs starting 2013?
A. It had no effect on GDP. B. It increased GDP. C. It may increase or decrease GDP. D. It decreased GDP.