By the legal definition of unemployment, a person who has quit his job to take care of his children full time is
A. unemployed.
B. not in the labor force.
C. in the labor force.
D. employed.
Answer: B
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The transactions demand for money exists because:
a. people want to maintain a speculative cash reserve. b. people are insensitive to interest rate fluctuations and prefer to hoard money. c. people want to be prepared for unplanned emergency expenditures. d. people prefer cash over bank deposits. e. people do not receive their income at the same time they spend it.
Differentiate between consumer's surplus and producer's surplus. For a rational consumer, consumer's surplus will never be a negative number. Why?
In fact, several studies focused on Europe concluded that higher exchange rate volatility:
A) is associated with smaller price differentials. B) is associated with larger price differentials. C) often precedes a return to stability. D) promotes trade and cooperation among nations.
Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18. The market is initially in equilibrium at Point B. If demand shifts from D2 to D1 and there is an excess supply of 200 million pounds of burritos, the price of burritos would be
A. $1.50. B. $3.00. C. $4.00. D. $6.00.