A college student who is enrolled in school full-time and not seeking employment is considered:
a. out of the labor force
b. unemployable, and not counted in official statistics.
c. employed in leisure.
d. underemployed.
a
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
A specialized worker doesn't spend time switching from one task to another. This source of productivity increase is called
A) functionality. B) continuity. C) innovation. D) repetition.
The interest rate the Federal Reserve charges a bank when it borrows reserves from the Fed is called the
A) federal funds rate. B) prime rate. C) market interest rate. D) discount rate. E) borrowing rate.
If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP
a. True b. False Indicate whether the statement is true or false