The labor force is defined as people
A) who have a job or are looking for a job.
B) in the working-age population who have a job.
C) in the working-age population who have a full time job.
D) who are 16 years of age or older.
A
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The 2001 recession was caused principally by
A) a slowing in the growth of the money supply. B) a drop in autonomous consumption spending. C) a decrease in government spending. D) a drop in real business investment.
Which of the following goods is excludable but not rival in consumption?
a. a congested toll road b. fire protection in a small town c. a tornado siren d. whales in the ocean
If in the past Congress had taken additional actions to make saving more rewarding, then today it is likely that the equilibrium interest rate
a. and the equilibrium quantity of loanable funds both would be lower. b. and the equilibrium quantity of loanable funds both would be higher. c. would be higher and the equilibrium quantity of loanable funds would be lower. d. would be lower and the equilibrium quantity of loanable funds would be higher.
Long-term contracts are LESS likely when:
A. specialized investments are important. B. hold-up is likely. C. workers are paid based on piece rates. D. the exchange environment is complex.