An individual who is employed part time, but is looking for a full-time job, is classified as:
A. frictionally unemployed.
B. cyclically unemployed.
C. structurally unemployed.
D. employed.
Answer: D
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Dividing the number of people unemployed by the civilian labor force gives us
A) the employment rate. B) the unemployment rate. C) the labor force participation rate. D) none of the above.
When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply curve because
a. the position of the marginal cost curve determines the price for which the firm should sell its product. b. among the various cost curves, the marginal cost curve is the only one that slopes upward. c. the marginal cost curve determines the quantity of output the firm is willing to supply at any price. d. the firm is aware that marginal revenue must exceed marginal cost in order for profit to be maximized.
Despite their fantastic employment gains, African American men earn ____% of what white men earn.
A. 65 B. 55 C. 60 D. 76
Assume that the marginal propensity to consume in an economy is 0.75. If the economy's full- employment real GDP is $900 billion and its equilibrium real GDP is $800 billion, there is a recessionary expenditure gap of:
A. $25 billion B. $100 billion C. $133 billion D. $400 billion