Sally Campbell is a homemaker. Last week, she was busy with her normal household chores when she was visited by the BLS and asked to describe her working status. She explained what she did and the BLS recorded her as being
a. a member of the labor force who is temporarily unemployed
b. a member of the labor force who chooses not to be employed
c. a member of the labor force who is underemployed
d. a discouraged worker who is not a member of the labor force
e. not a member of the labor force
E
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Suppose that the economy is producing above potential GDP and the Fed implements the correct change in monetary policy, but not until after the economy has passed the peak of the boom. Then
A) the Fed's contractionary policy will result in too small of a decrease in GDP. B) the Fed's expansionary policy will result in too small of a decrease in GDP. C) the Fed's contractionary policy will result in too large of a decrease in GDP. D) the Fed's expansionary policy will result in too large of an increase in GDP.
Participating nations in the 1997 Kyoto Protocol agreed to reduce overall greenhouse gases emission through 2020 to
A) as much as 20 percent below the levels in the 1990s. B) as much as 5 percent below the levels in the 1990s. C) as much as 50 percent below the levels in the 1990s. D) as much as 50 percent below the levels in the 1960s.
Which of the following statements about U.S. unemployment is true?
a. All racial groups experience approximately the same rate of unemployment. b. Black and white teenagers experience equally high rates of unemployment. c. Blacks as a group experience higher rates of unemployment than do white teenagers. d. Blacks experience higher rates of unemployment than do Hispanics. e. White teenagers experience higher rates of unemployment than do any other group in the population.
The effect of a drought on the price of an agricultural product will be greater the more __________ the demand for the agricultural product
A) price inelastic B) price elastic C) income elastic D) a and c E) b and c