If a large number of workers are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is:
A. overstated.
B. understated.
C. neither overstated or understated.
D. unbiased.
Answer: B
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The U.S. dollar will appreciate in value if
A) the demand curve for U.S. dollars shifts rightward. B) the demand curve for U.S. dollars shifts leftward. C) the supply curve of U.S. dollars shifts rightward. D) Americans choose to buy more foreign goods.
James used $250,000 from his savings account that paid an annual interest of 15% to purchase a hardware store. After one year, James sold the business for $320,000 . What is his accounting profit?
a. $320,000 b. $70,000 c. $282,500 d. $32,500
The law of increasing relative costs, depicted by the concavity of the production opportunities frontier, is most closely related to the
a. downward slope of the demand curve. b. upward slope of the demand curve. c. downward slope of the supply curve. d. upward slope of the supply curve.
We have had a downward trend in the unemployment rate since the 1980's until the increase occurring in
A. 1991. B. 2001. C. 2007. D. 2009.