Part-time workers who desire full-time employment are
A. Not part of the labor force and do not contribute to the unemployment statistic.
B. Underemployed and contribute to the unemployment statistic.
C. Underemployed but do not contribute to the unemployment statistic.
D. Discouraged workers and contribute to the unemployment statistic.
Answer: C
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The creation of a monopoly results in gains to
A) producers at no expense to consumers. B) consumers at no expense to producers. C) producers at the expense of consumers. D) consumers at the expense of producers.
The deficit is
A) the amount by which government purchases, transfers, and net interest exceed tax revenues. B) the amount by which government purchases and transfers exceed tax revenues. C) the primary deficit minus net interest payments. D) total tax revenues minus net interest minus government expenditures.
Labor demand is more elastic
A. the greater is labor's share in total costs. B. the greater is the elasticity of substitution between labor and capital. C. the greater is the supply elasticity of capital. D. the greater is the elasticity of demand for the firm's output. E. All of the statements are correct.
Which of the following is NOT a function of the Federal Reserve System?
A. implement fiscal policy B. provide a system for check collection and clearing C. supply fiduciary currency to the economy D. regulate the money supply