The official U-3 unemployment rate
A) includes persons without a job who have made efforts in the last week to find a job.
B) includes persons without a job, whether they are actively searching for work or not.
C) counts discouraged workers as unemployed.
D) counts people with part-time jobs who want full-time jobs as unemployed.
A
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Average labor productivity is defined as
A) per-capital real GDP divided by employment. B) nominal GDP divided by employment. C) per-capita nominal GDP divided by employment. D) real GDP divided by employment.
Refer to Figure 2-9. If the economy moves from point A to point D, the opportunity cost is
a. 10 toasters. b. 20 toasters. c. 30 toasters. d. 30 toothbrushes.
Refer to the graph shown. Holding cost conditions constant, if the monopolistically competitive firm represented were suddenly to find itself in a perfectly competitive market, the long-run equilibrium price would adjust to:
A. $6. B. $8. C. $4. D. $7.
Refer to the below graph. Which of the following statements is correct?
A. Demand is perfectly elastic
B. Demand perfectly inelastic
C. Supply is perfectly elastic
D. Supply is perfectly inelastic