Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret
a. True
b. False
Indicate whether the statement is true or false
True
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The price of gasoline rises by 33 percent to $3.50 a gallon and stays at that price for the next two years. The quantity of gasoline demanded two years from now will be
A) the same as one month after the price hike. B) greater than one month after the price hike. C) less than one month after the price hike. D) the same as it would be if the price hike had never occurred.
Households supply four basic types of resources. They include all of the following except
a. natural resources b. final goods and services c. capital d. entrepreneurial ability e. labor
Which landmark legislation protected the right of workers to organize and bargain collectively?
a. Landrum-Griffen Act b. Taft-Hartley Act c. Wagner Act d. Walsh-Healy Act
When measuring the opportunity cost of taking a vacation to Europe, the money spent on the flight, hotels, and meals is
a. generally less than the opportunity cost of the vacation b. generally greater than the opportunity cost of the vacation c. generally equal to the total opportunity cost of the vacation d. equal to the total opportunity cost of the vacation only if the vacation was planned well in advance e. equal to the total opportunity cost of the vacation only if there was little advanced planning