Technological advances generally result in
A) increased average number of hours worked per day.
B) increased infant mortality rates.
C) decreased incomes.
D) increased life expectancy.
D
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Which one of the following would be classified as employed?
a. a parent who works 50 to 60 hours per week caring for family members b. an construction worker vacationing in Florida who is on layoff due to bad weather conditions in his home state c. a 21-year-old full-time college student d. a 17-year-old high school student who works a newspaper route six hours per week
If the natural rate of unemployment is 6%, but the Fed thinks it is 5% and attempts to use monetary policy to move unemployment from 6% to 5%, then in the short run which of the following variables will the Fed's policy raise?
a. the price level and real GDP b. the price level but not real GDP c. real GDP but not the price level d. neither real GDP nor the price level
A production function tells you, given the inputs, what the output will be.
Answer the following statement true (T) or false (F)
Suppose an acre of land yields 100 bushels of corn and that one bushel of corn provides enough seed for one-quarter of an acre of land. The opportunity cost of consuming another 100 bushels of corn today is
A. 25 bushels of corn next year. B. 2.5 bushels of corn next year. C. 10 bushels of corn next year. D. 100 bushels of corn next year.