If a person is not employed but is looking for work, she is in the labor force.

Answer the following statement true (T) or false (F)


True

Economics

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In the business cycle, what immediately precedes the time when real GDP is falling?

A) depression B) peak C) recession D) expansion E) trough

Economics

An unemployment rate of 10% means that the employment rate is 90%.

Answer the following statement true (T) or false (F)

Economics

When taxes and transfer payments are taken into account, the distribution of income in the United States:

A. Is unchanged B. Is less equally distributed C. Is more equally distributed D. Becomes more beneficial for the wealthy

Economics

Marginal utility can be

A. positive, but not negative. B. positive, negative, or equal to zero. C. decreasing, but not negative. D. positive or negative, but not equal to zero.

Economics