Derrick loses his job, but does not look for work. Which of the following are consequences of this change in Derrick's status?
a. unemployment rises and the labor force is unchanged
b. unemployment rises and the labor force falls
c. unemployment and the labor force are unchanged
d. unemployment is unchanged and the labor force falls
d
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In recent years, redistribution has been the fastest growing category of federal government outlays
a. True b. False
If a profit-maximizing firm finds that price exceeds average variable cost and marginal revenue is greater than marginal cost, it should: a. reduce output, but continue producing in the short run. b. increase output
c. shut down. d. not alter its production level since it is earning a profit.
According to the following information, what is the unemployment rate? Number of Employed: 1800 Number of Unemployed: 200 Not in the Labor Force: 600
a. 10% b. 12% c. 14% d. 20%
The idea behind the “Big Mac index” is a test of
A. interest rate parity theory. B. long-run equilibrium theory. C. purchasing power parity theory. D. exchange rate equalization theory.