Which of the following individuals is the best example of a structurally unemployed worker?
A) a recent college graduate who has entered the labor force
B) an individual who has been laid off from his job because of a business cycle recession
C) an automobile worker who has lost her job because of an increase in automobile imports and does not have the skills currently needed by businesses
D) an individual who quits one job in the hope of finding a better job
C
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Suppose managers of an art auction house are going to auction a painting that is believed to be painted by a famous artist. If the managers of the auction are able to provide evidence that the painting was created by the famous artist, the participants in the auction will have ________ confidence in their own valuation of the painting and will submit ________ bids.
A) less; lower B) less; more C) more; lower D) more; higher
Which of the following is true of entrepreneurs? They
A) Generally work fewer hours per week than wage and salary employees. B) All of the above. C) Are adept at discovering profitable opportunities that are often overlooked by others. D) Have low saving rates and excessive debt.
Which of the following will be included in the calculation of gross domestic product using the expenditure method?
A) Wages paid to labor by firms B) Interest paid by households for loans C) Services purchased by the government D) Dividends paid by firms to shareholders
The ________ of something is the gain or pleasure that it brings
A) rational margin B) marginal cost C) benefit D) opportunity cost E) rational choice