Discouraged workers are included in the calculation of the
i. unemployment rate.
ii. labor force participation rate.
iii. working-age population.
A) i only
B) ii only
C) i and ii
D) iii only
E) ii and iii
D
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Refer to the table above. The firm ________ in the short run
A) earns a profit of $22 B) incurs a loss of $22 C) earns a profit of $76 D) incurs a loss of $76
The government passed the Economic Recovery Act in October 2008 to prevent the financial crisis from continuing to worsen. A controversial component of this act was the
A) temporary decrease in the federal deposit insurance limit. B) sale of new subprime mortgage assets. C) borrowing of $150 million from AIG. D) Troubled Asset Relief Program (TARP).
Explicit costs are
a. not part of opportunity cost b. the only cost considered in opportunity cost c. exactly the same as implicit costs d. actual monetary payments for resources purchased e. the opportunity costs of using resources owned by the firm
Tom loses his job and immediately begins looking for another. Other things the same, the unemployment rate
What will be an ideal response?