The labor force equals the number of people:
A. both employed and unemployed.
B. employed.
C. aged 16 years and older.
D. employed, unemployed and discouraged.
Answer: A
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Refer to the scenario above. What is likely to be the impact on Firm B's sales if Firm B decides to sponsor the event while Firm A decides not to sponsor the event?
A) A 10% increase in sales B) A 7% increase in sales C) A 2% increase in sales D) A 5% increase in sales
If P = MC for all goods in a free-market economy, then
a. the desire for utility maximization will lead consumers to buy the amount of each good at which MU = MC. b. the desire for profit maximization will lead consumers to buy the amount of each good at which MU = MC. c. the desire for utility maximization will lead consumers to buy only those goods that have low opportunity costs. d. the desire for profit maximization will lead all firms to stop producing in the long run (though possibly not in the short run).
Which of the following functions of money is also a common function of most other financial assets?
a. a unit of account b. a store of value c. medium of exchange d. None of the above is correct.
Figure 10-7
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Which of the diagrams in Figure 10-7 represents a decrease in consumer spending combined with a positive supply shock?
A. (A) and (B) B. (C) and (D) C. (A) and (C) D. (B) and (D)