The number of people officially unemployed is not the same as the number of people who can't find a job because:
a. the armed forces is included.
b. some people have jobs but continue to look for a better one.
c. some people who can't find a job become discouraged and quit looking.
d. none of these.
c
You might also like to view...
Empirical evidence shows that prices are sticky ________
A) in all sectors of the economy B) in hardly any sectors of the economy C) except in response to changes within individual markets D) all of the above E) none of the above
The real-balance effect refers to
A) the real interest rate. B) the production of real goods and services as opposed to financial instruments. C) the prices of goods and services. D) the real value of cash balances that a person is holding.
If there are positive externalities associated with the consumption of a good or service:
A. consumers will be willing to pay for all these benefits in private markets. B. the private demand curve will underestimate the true demand curve. C. the market demand curve will be the vertical summation of the individual demand costs. D. the private demand curve will overestimate the true demand curve.
The difference between the economic and political functions of government is that
A) the economic function is concerned with the Federal Taxation system while the political function is not. B) the economic function is concerned with correcting for market failures while the political function is not. C) the economic function is concerned with the reallocation of income while the political function is not. D) the economic function encourages merit goods while the political function discourages demerit goods.