All people in the working-age population can be divided into
A) labor force participants.
B) employed, unemployed, or not in the labor force.
C) either over-employed or under-employed.
D) potential employees.
B
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Consider a good whose consumption takes place publicly. Your decision to buy that good depends
A) both on the characteristics of the product and on how many other people are buying the good. B) only on the price of the good. C) only on how many other people buy the good. D) only on the characteristics of the good.
Economists
a. believe that tastes are the major influence on consumers' income expectations b. have observed that tastes vary with changes in the number of consumers c. recognize that tastes have an important impact on demand d. can say a great deal about the origin of tastes e. suspect that tastes can cause a movement along the demand curve
An increase in the inflation rate permanently reduces the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false
__________________ - Every pareto optimal point on the contract curve is a feasible equilibrium
Fill in the blank(s) with the appropriate word(s).