Authorization to start a business issued by the local government is called a/an
A. liability
B.IPO
C. royalty
D. business license
Ans: D. business license
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An important critique of real business cycle theory is the belief that cyclical movements in total factor productivity
A) rarely occur. B) may, in part, be an artifact of measurement error. C) lead to imperceptible changes in labor demand. D) are too small to account for the size of fluctuations in real GDP.
How does the presence of an underground labor market bias the government's calculation of the labor force participation rate?
A. The official government statistic on labor force participation is too high because people working in the underground labor market should be counted as being in the labor market but unemployed. B. The official government statistic on labor force participation is identical to actual labor market participation whether or not there is an underground labor market. C. The official government statistic on labor force participation is too low because people working in the underground labor market should not be counted as being in the labor market. D. The official government statistic on labor force participation is too high because people working in the underground labor market should not be counted as being in the labor market. E. The official government statistic on labor force participation is too low because people working in the underground labor market should be counted as being in the labor market and employed.
Henry Ford's experiment with efficiency wages resulted in
A) a dramatic drop in productivity. B) a dramatic increase in the turnover rate. C) a reduction in the layoff rate. D) new problems with the work force, like drunkenness and reckless driving. E) no noticeable effects.
The criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal or legal within the terms of the ________ is called the Rule of Reason.
A. Clayton Act B. Sherman Antitrust Act C. The Humphrey-Hawkins Act D. Federal Trade Commission Act