To be counted as part of the labor force, a person must:
a. be less than 65 years old.
b. have worked at some time in the past.
c. be employed in some productive activity.
d. be working or actively looking for work.
e. be above 16 years of age.
d
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The demand curve for labor is negatively sloped only because the firm must lower its price if it wishes to sell more output
Indicate whether the statement is true or false
Suppose there are 65 million employed persons, 5 million unemployed persons, and 35 million persons not in the labor force. What does the civilian noninstitutional population equal?
A) 70 million B) 110 million C) 65 million D) 105 million
Which of the following is an advantage of a common currency in Europe?
A) Each country could conduct its own, independent monetary policy. B) Exchange rate uncertainty within the common currency area would be eliminated. C) Each country could conduct its own, independent fiscal policy. D) all of the above E) none of the above
Christopher needs to hire an accountant but does NOT know how to find a good one. The accountant can best be regarded as a(n)
A. experience good. B. credence good. C. inferior good. D. search good.