Elisa Kilhafer, a housewife in St. Louis, Missouri, who claims on a Bureau of Labor Statistics (BLS) survey that she is neither gainfully employed nor looking for work, is, according to the BLS,
a. considered retired
b. counted as unemployed
c. considered reemployable
d. counted as a member of the labor force
e. not counted as a member of the labor force
E
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Refer to the figure above. If the capital stock is fixed at $300, what is the GDP in the economy?
A) $7,000 B) $6,000 C) $5,000 D) $4,000
In many corporations, there is "separation of ownership from control." What does this mean?
A) The board of directors controls corporate operations, although the managers of the corporation own the corporation. B) Top corporate managers only make decisions that have been approved unanimously by shareholders. C) The shareholders control the corporation, although the board of directors owns the corporation. D) The managers of the corporation run the corporation, although the shareholders own the corporation.
According to the process of creative destruction, at first the entrepreneur will be able to sell the product for
A. a low price because it is not well known. B. a high price because there is no competition. C. a fair price because these are contestable markets. D. at a price of zero until the market is created.
If the Chinese constructed their national income accounts the way we do in the United States, then it would not include
a. compensation of employees of the Chinese government b. rent earned by Chinese private landowners c. corporate profit earned by the China Energy Corporation d. the purchase of housing in the Chinese capital, Beijing e. royalties earned by a Chinese poet on her new publication The East Is Red