Under the Temporary Aid to Needy Families (TANF program), work activities are defined to include:
A. vocational training.
B. community service.
C. on-the-job training.
D. All of these
Answer: D
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In order for a country's real GDP to increase without inflation or deflation over long periods time,
A. either its aggregate demand or its aggregate supply must increase. B. its aggregate supply must increase. C. its aggregate demand must increase. D. both its aggregate demand and its aggregate supply must increase.
The task of economic regulation is to:
A. protect monopoly profits. B. approximate the results of the competitive market. C. replace competition with government ownership. D. increase competition within the market.
A headline states: "Real GDP falls again as the economy slumps." This condition is most likely to produce what type of unemployment?
A. Structural B. Cyclical C. Frictional D. Natural
If you were to start your own business, your implicit costs would include the:
A. opportunity cost of the time you spend working at the business. B. profit you earn over and above your normal profit. C. interest that you pay on your business loans. D. rent that you have paid in advance for the use of a building.