Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:
A. not a member of the labor force.
B. a member of the civilian labor force who is unemployed.
C. a member of the civilian labor force who is underemployed.
D. a member of the civilian labor force who is employed.
Answer: A
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Sandra has been working as a software engineer for five years and Jack has been working as a software engineer for two years. Which of the following statements is true of Sandra and Jack?
A) Sandra is likely to earn lower wages than Jack. B) Sandra is likely to earn the same wage as Jack. C) Sandra is likely to be more productive at work than Jack. D) Sandra is likely to be equally productivity at work as Jack.
Refer to Figure 15-11. In the dynamic model of AD-AS in the figure above, the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues policy. This will result in
A) unemployment rates higher than what would occur if no policy had been pursued. B) real GDP lower than what would occur if no policy had been pursued. C) short-term interest rates higher than what would occur if no policy had been pursued. D) inflation higher than what would occur if no policy had been pursued.
As resources move from low-valued uses in a resource market to highly-valued uses in another resource market, the price paid to the resource in the highly-valued market will
a. not be affected, if the change is temporary b. increase, if the change is temporary c. remain the same d. decrease e. increase, if the change is permanent
When the price of knee braces increased by 25 percent, the Brace Yourself Company increased its quantity supplied of knee braces per week by 75 percent. BYC's price elasticity of supply of knee braces is 0.33
a. True b. False Indicate whether the statement is true or false