In calculating the unemployment rate, "discouraged" workers who are not actively seeking employment are:
a. Included
b. Used to determine the size of the labor force
c. Treated the same as part-time workers
d. Excluded
d. Excluded
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Government rules and regulations can, at times,
A) improve the function of property rights. B) limit free-riders. C) reduce negative externalities. D) all of these choices.
Which of the following transactions would be included in Gross Domestic Product (GDP)?
A. the purchase of a used car B. the purchase of a used textbook from a friend C. the purchase of 100 shares of Microsoft stock D. the purchase of new tires by a family to replace worn out tires on the family car
Data on income inequality in the United States indicate that
a. rich families stay rich and poor families stay poor. b. most poor families never significantly rise above the poverty level, but rich families tend to become less wealthy over time. c. there is substantial movement among income groupings in the United States. d. the inequality between the rich and poor in annual consumption expenditures is greater than the parallel inequality in annual income.
Ceteris paribus, which of the following will cause the supply of paper to decrease?
A.) The price of lumber, an ingredient in paper production, increases. B.) The federal government decides to subsidize the production of paper. C.) People rely more on electronic books and less on printed materials. D.) The technology used to produce paper improves.