The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of households called the
a. Census.
b. Labor Survey.
c. Survey of Economic Indicators.
d. Current Population Survey.
d
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Consider a downward-sloping demand curve. When the price of an inferior good decreases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.
Suppose you had $1000 and were deciding between two investments. One pays 5% a year for two years while the other pays 8% the first year and 2% the second year. Which investment would provide a higher return?
What will be an ideal response?
If the free-rider problem affects political advocacy, the result may be that the:
A. best ideas will always win because those supporters value the outcome the most. B. best ideas will always win because free-riders are not typically supporters of relevant alternatives. C. best ideas might not win out if lots of people fail to lend their support. D. irrelevant alternatives are eliminated from the options, increasing the efficiency of the vote.
Market demand is the sum of the individual demands of all consumers in a market
Indicate whether the statement is true or false