Who among the following would not be considered officially unemployed?
a. Jones, who quit his job to look for a better job in another part of the country
b. Jason, who got fired from his job when the government cut spending
c. Bourne, who is looking for a job after being out of the labor force for five years
d. Sophie, who retired early because she disliked her current job
e. Annie, who dropped out of the labor force after a year of job search
d
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The organization of the context and process in which people make decisions is called:
A. political structure. B. choice architecture. C. ways and means theory. D. choice structure.
While Schumpeter's view that clusters of innovations can set off an innovation cycle is quite different from the views held by real business cycle theorists, they both
a. believe that cycles are not inevitable but the result of historical accidents b. believe that cycles are inherent and inevitable c. they both focus their analyses on technological change d. view the interaction of the multiplier and accelerator as the key factor prolonging the innovation cycle e. advocate strong countercyclical fiscal policy as a means of creating a more stable growth path for the economy
The consumer price index and the GDP deflator are two alternative measures of the overall price level. Which of the following statements about the two measures is correct?
a. The CPI involves a base year; the GDP deflator does not involve a base year. b. The CPI can be used to compute the inflation rate; the GDP deflator cannot be used to compute the inflation rate. c. The CPI reflects the prices of goods and services produced domestically; the GDP deflator reflects the prices of all goods and services bought by consumers. d. The CPI reflects a fixed basket of goods and services; the GDP deflator reflects current production of goods and services.
The cost to a manager of doing a poor job running the firm is:
A. a decrease in his fixed salary. B. a decrease in the sales of the firm. C. an increase in the likelihood of being replaced. D. a decrease in the profit of the firm.