Which is an example of barter?
A. A person trading a desk for a box of tools.
B. The purchase of stock on the New York Stock Exchange.
C. A person buying clothes at a used clothing store.
D. A gift of tuition money from parents to their children.
Answer: A
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A car owner who has agreed to sell his old car to a buyer at a contracted price will be unable to accept the price offered by other prospective buyers due to the _____ constraint
a. financial b. informational c. societal d. contractual
In 2016 the Bureau of Labor Statistics reported that there were 57.1 million people over age 25 whose highest level of education was some college or an associate degree. Of these, 36.4 million were employed and 1.5 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
a. 66.4% and 2.6% b. 66.4% and 4.0% c. 63.7% and 2.6% d. 63.7% and 4.0%
When the aggregate demand and short-run aggregate supply curves intersect at a level of real GDP which exceeds potential GDP, what will occur?
What will be an ideal response?
In the above table, what is the marginal cost to produce the 2nd unit of output?
A. $55 B. $20 C. $30 D. $60