A teenager without a high school diploma is unable to find work because all of the available jobs require a certain minimum reading skill level which he is not proficient in. Which of the following best characterizes the teenager's circumstances?
A. Structurally unemployed.
B. Underemployed.
C. A discouraged worker.
D. Phantom unemployed.
Answer: A
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Market power is illegal
A) True, no one is allowed to charge a price greater than marginal cost. B) False. C) True, no one is allowed to charge a price greater than average cost. D) False, because market power guarantees price equal to average cost.
Which of the following has contributed to China's economic growth since 1980?
a. the rapid growth of foreign aid from European countries b. nationalization of many private industries c. increased restrictions on international trade d. increased privatization of the agricultural and small-business sectors
The marginal propensity to consume is equal to:
a) Total spending / total consumption b) Total consumption / total income c) Change in consumption / change in income d) Change in consumption / change in savings
Unlike a sole proprietorship, a corporation's shareholders
A) own the firm and directly manage it as well. B) own the firm but do not directly manage it. C) do not own the firm but directly manage it. D) do not own the firm and do not directly manage it.