As the number of people who use Facebook increases, the value of Facebook to its users increases. This is an example of:
A. platform economics.
B. network efficiencies.
C. network externalities.
D. platform externalities.
Answer: C
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Currently, well over half of the American workforce is comprised of women.
Answer the following statement true (T) or false (F)
Compared to a direct cash transfer payment of an identical amount, food stamps make individuals who desire less food than the value of the food stamps _____
a. better off b. worse off c. indifferent between food and all other goods d. prefer food too all other goods on the margin
Which of the following people is counted in the labor force?
a. Jerry, who lost his job and last looked for work three months ago. b. Bob, who holds an MBA in management but can only find part-time employment at a fast-food restaurant. c. Phil, who would like to work as a stockbroker but is now a househusband. d. Mickey, who thinks he could easily become a millionaire, despite the opinion of the psychiatrist at the state hospital where he is a patient. e. Donna Jean, age 90, who is enjoying her retirement in Montana.
As a result of the housing market crash overall output fell, and prices:
A. decreased because the magnitude of shift was larger for aggregate demand than it was for aggregate supply. B. increased because the magnitude of shift was larger for aggregate demand than it was for aggregate supply. C. decreased because the magnitude of shift was smaller for aggregate demand than it was for aggregate supply. D. increased because the magnitude of shift was smaller for aggregate demand than it was for aggregate supply.