Using the official measure of unemployment, which of the following would NOT be counted as unemployed?
A) a person who is not working but who has tried to find a job in the past week
B) a person who is waiting to be called back to a job after having been laid off
C) a person who performs traditional housework and does not work outside the home for pay
D) a person who is waiting to start a new job in the next 30 days
C
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Rational individuals prefer to consume goods during the current year rather than in the future because of:
a. positive time preference. b. positive consumption preference. c. high expected rate of inflation. d. high market rate of interest.
In the end, the monetarist version of the quantity theory of money still leads to the same classical conclusion: Although money cannot influence how much we produce, it does influence the prices of the goods and services we produce
Indicate whether the statement is true or false
Assume that the quantities of other resources employed by the firm remain constant.Quantity of Resource Y EmployedMarginal Product of YProduct Price0-- 144$2.002421.903361.804321.705241.606141.50721.40How many units of resource Y would the firm employ at a price of $50 per unit of Y?
A. 2 B. 3 C. 4 D. 5
If a freeze destroys oranges before they are harvested, the equilibrium price of an orange ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases