When price falls, demand rises
a. True
b. False
Indicate whether the statement is true or false
False
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An outward, parallel shift in the budget line indicates that
a . the consumer's income has risen. b. the consumer's demand for the good on the horizontal axis has risen. c. the price of the good on the horizontal axis has fallen. d. all commodity prices have simultaneously risen.
Use the following information to answer the next question.The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment.Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month but still has not gotten a job offer.George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve.Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in
her aircraft design skills.Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year but was unsuccessful and quit looking for work.Which individual would be classified as a discouraged worker? A. Jeanette B. Ricardo C. George D. Mollie
In the two-gap model, which of the following gaps, when binding, leads to foreign aid having the largest impact on GNP?
(a) Fiscal gap. (b) Savings gap. (c) Foreign exchange gap. (d) None of the above.
The household and establishment surveys sometimes differ on the labor market conditions. This is probably because ________
A) the establishment survey counts a worker who holds two jobs twice and the household survey does not B) the establishment survey only counts employees of a company and the household survey also counts the self employed C) the establishment survey covers more workers than the household survey D) all of the above E) none of the above