The term "unemployment" is best described as the total number of
A) adults who are looking for work but have not found a job.
B) people not working.
C) adults who work fewer hours than they wish to work.
D) people who have been laid off and have stopped looking for work.
A
You might also like to view...
Compared to a perfectly competitive market, a single-price monopoly sets
A) a lower price. B) the same price. C) a higher price. D) a price that might be higher, lower, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve. E) a price that might be higher, lower, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve.
Economists speak of price elasticity of demand. Which word below is synonymous with "elasticity"?
A) Futility B) Sensitivity C) Relativity D) Serendipity
Suppose a central bank tries to keep exchange rates fixed. When there is an increase in the demand for foreign goods, the central bank will most likely
A) buy foreign currency in exchange for the domestic currency. B) do nothing. C) sell the domestic currency in exchange for foreign reserves. D) use foreign reserves to buy the domestic currency.
Under a system of free, competitive markets,
a. a society can usually achieve efficiency only at the expense of equality. b. poverty cannot exist in the long run. c. employers do not practice statistical discrimination. d. income is distributed equally across the population.