The labor force consists of
A) the number of people who unemployed and who are actively seeking work.
B) the number of people who are employed.
C) the number of people who are employed minus the number of the people who are unemployed.
D) all people in the population aged 16 and over who are not in jail, a hospital, or an institution or in the U.S. Armed Forces.
E) the number of people in the working-age population who are employed or unemployed.
E
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A single-price monopoly is characterized by a marginal revenue curve that is
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
When the goods market is returning to equilibrium following a decrease in the real interest rate, ________
A) saving and output are both rising B) saving and output are both declining C) saving is rising, while output declines D) all of the above E) none of the above
If there is a floor on wages created by a minimum wage, union contracts, or other factors, then a decline in the marginal productivity of low-skilled workers will ________ the demand for low-skilled workers and ________ the number of unemployed workers.
A. increase; increase B. decrease; decrease C. increase; decrease D. decrease; increase
Which of the following examples would most likely cause the AVC curve to move up?
a. paying rent
b. hiring more employees
c. reducing the cost of maintaining equipment
d. paying insurance