The number of people classified as employed is 260,000 and the number of people classified as unemployed is 30,000. The size of the labor force
A. equals 230,000.
B. equals 260,000.
C. equals 290,000.
D. equals 320,000.
Answer: C
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A reduction in the price charged for luncheon specials by a downtown cafeteria will
A) affect the demand (curve) for that cafeteria's luncheons if its competitors react. B) have no effect on the demand for lunch at other downtown restaurants. C) increase the cafeteria's gross revenue from lunch business. D) increase the cafeteria's net revenue from lunch business if the demand is elastic. E) increase the cafeteria's net revenue from lunch business if the demand is inelastic.
Utility as an economic term refers to
a. the amount of electricity generated. b. the ability of a good to satisfy a want. c. tangible goods only. d. services only.
Product _______ may create _______ trade between countries, particularly in those with similar relative factor endowments.
A) homogeneity; the absence of B) differentiation; one-way C) differentiation; two-way D) liability; two-way
Refer to the information provided in Figure 30.1 below to answer the question(s) that follow. Figure 30.1Refer to Figure 30.1. Growth in aggregate output causes a ________ through the accelerator effect.
A. shift from Point B to Point C B. shift from Point C to Point B C. shift from I2 to I3 D. shift from I3 to I2