The graph that relates hours of labor input to output is called the
a. consumption function.
b. conjunction function.
c. capital function.
d. production function.
d
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In the Current Population Survey, a person is considered unemployed if the person
A) is without a job. B) is working anything less than 40 hours per week. C) is working without pay. D) does not have a job and is actively looking for a job. E) is working less than 20 hours per week.
Adrian's total utilities of two consumption bundles are 50 and 100. This implies that
A) Adrian prefers the first bundle. B) Adrian prefers the second bundle. C) Adrian likes the second bundle twice as much. D) Adrian likes the first bundle twice as much.
In the early twentieth century, racial segregation of streetcars in the southern cities was largely opposed by
a. streetcar firms. b. government officials. c. Federal lawyers applying the Sherman antitrust laws. d. consumers.
Refer to the market graph shown below. A black market where the price is $2.00 could result from price:
A. Ceiling set at $2.50
B. Ceiling set at $1.50
C. Floor set at $1.50
D. Floor set at $2.00