Mallory Trammell is a homemaker. Last week, she was busy with her normal household activities. How will she be classified by the Bureau of Labor Statistics?
What will be an ideal response?
Not a member of the labor force.
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John's utility of wealth curve is shown in the above figure. He currently has total wealth of $20,000. If there is a 50 percent chance that his $10,000 car will be stolen, what is the value of insurance against the theft?
A) $0 B) $5,000 C) $7,000 D) $13,000
Imposing trade barriers does all of the following except
A) lowers incomes. B) invites retaliation from foreign governments. C) lowers domestic prices. D) reduces economic efficiency.
The following economy produces two products.ProductsProduction Possibilities?ABCDEFTanks012345Autos10009508506503500Refer to the above table. The total opportunity cost of the three units of tanks is:
A. 200 units of autos. B. 1000 units of autos. C. 650 units of autos. D. 350 units of autos.
The market for smartwatches has begun to grow, due in part to the success of the Apple Watch
Following the successful launch of the Apple Watch in 2015, companies such as Samsung, Sony, and LG have all developed products to compete with the Apple Watch. The smartwatches introduced to compete with the Apple Watch would be considered A) complements to the Apple Watch. B) substitutes for the Apple Watch. C) normal goods compared to the Apple Watch. D) inferior goods compared to the Apple Watch.