Full employment is not zero unemployment because
A) there are statistical errors when determining the unemployment rate that cannot be overcome.
B) there is "normal" friction in the economy made up of those workers who are between jobs and those new entrants to the labor force.
C) there are undocumented workers in the economy who are not counted by the Bureau of Labor Statistics.
D) government workers are not counted in the labor force.
B
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Spending on newly constructed homes is part of the investment component of GDP.
Answer the following statement true (T) or false (F)
In 2004, hurricanes damaged a large portion of Florida's orange crop. As a result of this, many orange growers were not able to supply fruit to the market
If, following the hurricane, the price remained at its pre-hurricane level, we would expect to see A) a surplus of oranges. B) a shortage of oranges. C) an increase in the demand for oranges. D) the quantity demanded equal to the quantity supplied.
Other things remaining the same, in the long-run as compared to the short-run
A. supply elasticity will decrease. B. supply elasticity will increase. C. supply elasticity will remain the same. D. one cannot tell.
The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The net benefit of hiring fundraisers is largest when ________ employees are hired.
A. 1 B. 2 C. 4 D. 3