The labor force includes only
A. people who are employed.
B. the employed and the unemployed.
C. the employed, the unemployed, and discouraged workers.
D. the unemployed and discouraged workers.
B. the employed and the unemployed.
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"As part of the financial crisis bailout plan in 2008, the Federal Reserve should not bail out banks that made risky loans." This is an example of
A) a positive statement. B) the Federal Reserve taking actions that are not at the margin. C) opportunity costs. D) a normative statement.
On the graph above, if the U.S. economy is at point B in 2009, then the economy in 2010 is best represented by point ________
A) A B) B C) C D) D E) any of the labeled points is as good as the others
Which of the following is not possible?
a. Demand is elastic, and a decrease in price causes an increase in revenue. b. Demand is unit elastic, and a decrease in price causes an increase in revenue. c. Demand is inelastic, and an increase in price causes an increase in revenue. d. Demand is perfectly inelastic, and an increase in price causes an increase in revenue.
The balance of payments is the domestic price of a foreign currency.
Answer the following statement true (T) or false (F)