To be counted in the labor force
A. a person has to be at least 16 or older, have a job, or if unemployed has to be actively seeking employment.
B. a person has to be working at least 10 hours per week.
C. a person has to be over 16 years of age, irrespective of whether she or he is actively seeking work.
D. a person, irrespective of his or her age, has to be working or, if out of work, actively seeking employment.
Answer: A
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Suppose a transaction changes a bank's balance sheet as indicated in the following T-account, and the required reserve ratio is 10 percent
Assets Liabilities Reserves + $2,000 Deposits + $2,000 As a result of the transaction, the bank can make a maximum loan of A) $0. B) $200. C) $1,800. D) $2,000.
The most common form of business organization, as far as the number of such firms in business, is the
A) proprietorship. B) partnership. C) corporation. D) S corporation.
Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together. What is the average product of the first three workers?
A) 25 cookies B) 30 cookies C) 17.5 cookies D) 20 cookies
Why might network externalities result in products that contain inferior technologies?
What will be an ideal response?