Which of the following people would be included in the calculation of the civilian labor force?
a. Adriana, a 17-year-old high school graduate who is looking for her first job
b. Khadija, a retiree who occasionally does volunteer work at the local library
c. Simen, an accountant who is currently serving a prison sentence for embezzlement
d. Lorn, a Marine Corps sergeant who works full time at 29 Palms, California
a. Adriana, a 17-year-old high school graduate who is looking for her first job
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What is the term that describes a situation in which one party to an economic transaction has less information than the other party?
A) monopsony B) asymmetric information C) inefficient market hypothesis D) unequal market structure
When a U.S. investor buys a bond issued in a foreign country
A) the balance on the financial account decreases. B) the balance on the capital account decreases. C) the balance of trade decreases. D) the balance on the current account decreases.
Originally, the threshold income level used to determine official poverty statistics was based on
A) a per capita income of $3000 in 1955 prices. B) the lowest income of the second quartile of families in the country. C) an income three times greater than necessary to purchase a nutritionally adequate diet. D) figures developed by a committee in the American Economic Association.
During the 1970s, the inflation rate and the unemployment rate were inversely related
a. True b. False Indicate whether the statement is true or false