A prolonged period during which stock prices continue to rise is known as a
a. bear market
b. bull market
c. crashd. resurgence
e. none of these
b. bull market
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If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
Labor productivity is ________ divided by the ________
a. units of labor employed; total output b. total output; units of labor employed c. the wage rate; the price of the good or service produced d. units of labor employed; the wage rate
A person has a basic choice between eating meals at home and eating meals in a restaurant. The cost of the food that is eaten at home is $10 per meal. The cost of a restaurant meal is $20. It takes two hours to eat a meal at home (including
preparation time and cleanup time). It takes one hour of time to eat a meal in a restaurant. The marginal utilities of the home meal and the restaurant meal are the same. The person values time at $12 per hour. What does the theory of consumer behavior suggest the rational consumer will decide to do: eat at home or in a restaurant? Please provide the best answer for the statement.
The velocity of money is the ratio of
A. real GDP to the stock of money. B. nominal GDP to the stock of money. C. the overall price level to the stock of money. D. nominal GDP to the overall price level.