Which of the following people is would be considered a new entrant according to the Bureau of Labor Statistics?
a. a 35-year-old mother of two who will be taking a part-time job at the government
agency she worked for before she started her family
b. a 67-year-old retiree who decides to begin volunteering at a homeless shelter several
days a week
c. a 43-year-old who decides to quit his career as a financial analyst to become a yoga
instructor
d. a 21-year-old who just graduated from college and is looking for a part-time clerical
job because he has no work experience
d. a 21-year-old who just graduated from college and is looking for a part-time clerical
job because he has no work experience
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When the economy produces its potential output, _____ is zero
a. frictional unemployment b. cyclical unemployment c. seasonal unemployment d. structural unemployment e. disguised unemployment
In events leading to the collapse of the housing bubble, inflated home values created a:
A. wealthier economy, which caused economic growth. B. false sense of wealth, which increased aggregate demand. C. false sense of wealth, which spurred economic growth to decrease. D. wealthier economy, which caused inflation.
People interpret evidence to confirm beliefs they already hold. This statement is an example of which of the following systematic mistakes that people make?
a. people are overconfident b. people give too much weight to a small number of vivid observations c. people are reluctant to change their minds d. All of the above are correct.
The relationship between the number of hours a student studies for an exam and the exam grade is most likely graphed as
A) a line sloping down from upper right to lower left. B) a line sloping down from upper left to lower right. C) a line sloping up from lower left to upper right. D) a line sloping up from lower right to upper left.