Which of the following people is counted in the labor force?
a. Jerry, who lost his job and last looked for work three months ago.
b. Bob, who holds an MBA in management but can only find part-time employment at a fast-food restaurant.
c. Phil, who would like to work as a stockbroker but is now a househusband.
d. Mickey, who thinks he could easily become a millionaire, despite the opinion of the psychiatrist at the state hospital where he is a patient.
e. Donna Jean, age 90, who is enjoying her retirement in Montana.
b
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In the market for CDs, the producer surplus will decrease if ________
A) the supply of CDs increases B) the price of a CD decreases C) the marginal cost of a CD decreases D) the price of a CD increases
Suppose the market equilibrium price of corn is $5 per bushel, and the government sets a price ceiling of $4 per bushel. What is the most likely result of this action?
a. There will be a shortage of corn. b. There will be a surplus of corn. c. There will be a decrease in the quantity of corn demanded as the result of the price ceiling. d. There will be an increase in the quantity of corn supplied as the result of the price ceiling.
Studies have found which of the following economic terms mentioned most often in U.S. newspapers?
a. Unemployment b. Productivity c. Inflation d. Monetary policy
It is likely that for most people:
A. coffee and non-dairy creamer are substitutes. B. coffee and tea are substitutes. C. coffee and coffee mugs are substitutes. D. coffee and Coke are complements.