Susan Clark would like to work forty hours per week, but can only find twenty hours per week of work. In the official employment statistics, Susan is classified as:
A. out of the labor force.
B. unemployed.
C. underemployed.
D. employed.
Answer: D
You might also like to view...
If a country's currency ________ the dollar, its exchange rate is fixed
A) is exchanged in currency markets for B) has a floating exchange rate value which is equal to C) depreciates against D) is pegged to
You explain to your roommate Surya, who makes beaded headbands, about an economic theory which asserts that consumers will purchase more of a product at lower prices than they will at higher prices
She contends that the theory is incorrect because over the past two years she has lowered the price of her headbands and yet has seen a decrease in sales. How would you respond to Surya? A) I will explain to her that she is making the error of reverse causality: it is the decrease in demand that has caused her to lower her prices. B) Surya is right; she has evidence to back her claim. The theory must be erroneous. C) Surya is making the mistake of assuming that correlation implies causation. D) I will explain to her that there are some omitted variables that have contributed to a decrease in her sales such as changes in income.
Does the amusement park Six Flags Over Texas, in Arlington, Texas, share a market with the Texas Rangers pro baseball team, also located in Arlington, Texas? And if so, which one? Explain
Jeff runs a bakery that is famous for its handmade sweet buns. Suppose the elasticity of demand for sweet buns is equal to 0.21, then an increase in the price of the buns: a. will result in a decrease in the supply of sweet buns. b. will result in an increase in the demand for sweet buns
c. will result in a decrease in the total revenue earned by Jeff. d. will result in an increase in the total revenue earned by Jeff.