The longest and most severe recession in the United States since 1925 began in:
A. 1945.
B. 1982.
C. 1957.
D. 1929.
Answer: D
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What is the discouraged worker effect?
A. A discouraged worker accepts a part-time job and is therefore counted as being employed. B. A discouraged worker will accept any job offer regardless of the wage. C. A discouraged worker stops looking for a job and therefore is no longer counted as being in the labor force. D. Because a discouraged worker accepts a part-time job when he wants a full-time job, he is considered to still be unemployed. E. A discouraged worker stops looking for a job but is still counted as being in the labor force.
An increase in equilibrium quantity will result from each of the following except
A. an increase in supply and an increase in demand. B. an increase in demand and no change in supply. C. an increase in supply and no change in demand. D. a decrease in demand and a decrease in supply.
A union can achieve higher wages without accepting lower levels of employment of members by
A) promoting right-to-work laws. B) increasing the demand for substitute products made by non-union labor. C) increasing conflicts with management. D) beginning a campaign against buying foreign imports.
In game theory, the strategy that always yields the highest benefit for the player using it is the
A) dominant strategy. B) cooperative strategy. C) prisoners' strategy. D) matrix strategy.