Two goods are substitutes of each other if an increase in the price of one good causes the demand for the other good to increase
a. True
b. False
Indicate whether the statement is true or false
True
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The labor force participation rate includes
A) only those employed but looking for a job. B) both employed workers and discouraged workers not seeking jobs. C) both employed workers and those unemployed but seeking employment. D) only those who are employed.
The shoeleather cost of inflation refers to
a. the redistributional effects of unexpected inflation. b. the time spent searching for low prices when inflation rises. c. the waste of resources used to maintain lower money holdings. d. the increased cost to the government of printing more money.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30
Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. The opportunity cost of a truck is ________ car(s) in England and ________ car(s) in the United States.
A. .25; 1.5 B. 6; 4 C. 1.5; 4 D. 4; 6