Official unemployment statistics
A. understate unemployment because individuals receiving unemployment compensation are counted as employed.
B. understate unemployment because "discouraged workers" are not counted as unemployed.
C. include cyclical and structural unemployment, but not frictional unemployment.
D. overstate unemployment because workers who are involuntarily working part time are counted as being employed.
B. understate unemployment because "discouraged workers" are not counted as unemployed.
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If the banking system has a large amount of reserves, many banks will have excess reserves to lend and the federal funds rate will probably ________; if the level of reserves is low, few banks will have excess reserves to lend and the federal funds
rate will probably ________. A) fall; fall B) fall; rise C) rise; fall D) rise; rise
The Endangered Species Act is an attempt to
A) protect endangered species against greedy loggers, farmers, and business people. B) protect endangered species from the overzealousness of many environmentalists. C) protect species endangered because there are no private property rights on them. D) prevent some people from earning a good living.
A German who exchanges euros for dollars in a U.S. airport is
a. contributing to U.S. exports b. lending dollars to Germans c. participating in the foreign exchange market d. engaging in speculative activities e. engaging in illegal activities
If a firm is facing inelastic demand, then the firm should decrease price to increase revenue
a. True b. False Indicate whether the statement is true or false