Who would the BLS count as unemployed? The person who
A) searches for a job after retiring from the military.
B) quits work and intends to stay at home raising his kids.
C) was fired from work and decides to attend college full time rather than seek work.
D) is dissatisfied with her present job and spends hours reading the help-wanted ads.
A
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Most pharmaceutical firms selling prescription drugs continue to earn economic profits long after the patents on the prescription drugs expire because they have established a strong foothold in the market
Indicate whether the statement is true or false
The labor force is
A) the sum of the employed and unemployed workers in an economy. B) the total number of people in an economy who are over the age of 16. C) the total number of employed people in an economy. D) the percentage of employed people divided by the population.
Which of the following is not a criticism of the national defense argument for trade restrictions?
a. National defense only makes sense in the absence of international trade. b. Stockpiling basic military hardware could eliminate the need to protect the domestic industry. c. Nearly all industries can make some claim to strategic importance, so such trade restrictions can get out of hand. d. National defense considerations can outweigh concerns about efficiency. e. Government subsidies to domestic producers may be more efficient than trade restrictions.
According to dynamic tax analysis, continually increasing the tax rate will eventually
A) cause an increase in the tax base. B) have no impact on the tax base. C) cause a decrease in the tax base. D) result in an initial decrease in the tax base followed ultimately by a rise in the tax base.