Suppose Jess resigns from her low paying job. After looking for a new job for two weeks she is highly frustrated and gives up looking for a better-paying job. According to the U.S. Bureau of Labor Statistics, Jess would:
a. be considered as a part of the labor force.
b. be considered employed.
c. be considered temporarily unemployed.
d. not be considered as a part of the labor force.
e. be considered as seasonally unemployed.
d
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If an economist says "the higher the price of oranges, the fewer oranges individuals will buy, ceteris paribus," this means that
A) individuals don't like high-priced oranges. B) as the price of oranges rises, individuals' preferences change and they no longer like oranges as much as they once did. C) as the price of oranges rises, individuals' preferences do not change, nor does anything else, but individuals buy fewer oranges in response to the higher price of oranges. D) the higher the price of oranges, the fewer oranges individuals will buy, assuming that people have economic motives.
The Federal Reserve consists of ________ regional banks, ________ governors on the Board of Governors, and ________ voting members of the Federal Open Market Committee.
A. 12; 7; 19 B. 14; 7; 21 C. 7; 12; 12 D. 12; 7; 12
In a monopolistically competitive market, there:
A. are many firms selling an identical product. B. is only one firm that sells many similar yet slightly different products. C. are many firms that have slight control over the price they charge for their product. D. are substantial barriers to entry.
Refer to the information provided in Figure 23.4 below to answer the question(s) that follow.
Figure 23.4Refer to Figure 23.4. The society's consumption is equal along C2 and C3 if
A. saving is positive. B. income is Y2. C. saving is negative. D. income is Y1.