Someone 18 years old who is not employed and is not actively seeking work is considered
A. In the labor force.
B. Not in the labor force.
C. Unemployed.
D. Employed.
Answer: B
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In the Modern Keynesian Model the short run aggregate supply curve slopes upward. How could one explain the shape of the upward sloping? short-run aggregate supply curve by only focusing on the capital? input?
Money includes
A) currency. B) checking deposits held by households and firms. C) deposits in the foreign exchange markets. D) currency and checking deposits held by households and firms. E) futures and deposits in the foreign exchange market.
The short-run Phillips curve shows that as the unemployment rate goes down, _____
a. unemployment benefit payments go up b. prices go down c. the Phillips curve shifts outward d. the inflation rate goes up e. there is no change in the rate of inflation
Which of the following statements is correct?
a. Less than three percent of families are categorized as poor for eight years or more. b. In the United States, the grandson of a millionaire is much more likely to be rich than the grandson of an average-income person. c. The majority of millionaires in the United States inherited their wealth. d. Most workers have about the same income (adjusted for inflation) when they are young as when they are middle-aged.