Which of the following does not classify you as unemployed?
a. Quitting your job to look for a better job in another part of the country
b. Being fired from your job for not coming to work on time
c. Looking for a job after being out of the labor force for five years
d. Retiring after 40 years of working for McDonald's
e. Looking for a summer job while still a college student
D
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The U.S. Treasury is responsible for controlling the money supply and interest rates in the economy
Indicate whether the statement is true or false
Refer to Figure 8.9. At the market price of $18 per bushel, if this farmer produces 350 bales of hay, the total revenue would be A) $1,200. B) $2,800. C) $5,600. D) $6,300.
One difference between the short run and the long run is that perfectly competitive firms:
A. always earn positive economic profit in the short run, but never in the long run. B. can earn positive, negative, or zero economic profit in the short run, but will earn zero economic profit in the long run. C. earn zero economic profit in the short run, but will earn positive economic profit in the long run. D. always earn more economic profit in the long run.
The change in total welfare from a 10% increase in price will depend only on the elasticity of demand
Indicate whether the statement is true or false