Drawbacks to using the establishment survey to calculate unemployment include all of the following except
A) the survey does not include information on self-employed persons.
B) the survey may not include employment data at newly-opened firms.
C) the survey provides no information on unemployment.
D) the survey only includes data on full-time employees.
D
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Which of the following is not a necessary characteristic of a perfectly competitive industry?
A. The industry or market demand is highly elastic. B. Consumers see no difference between the product of one firm and that of another. C. There are so many firms that none can influence market price. D. Firms can easily enter or exit the industry.
The figure above shows an education market in which the government is providing households with vouchers. In total, how much do the schools receive for a student?
A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) $20,000
Which of the following helps in preventing firms in the U.S. from forming collusive agreements?
A) The low demand faced by colluding firms B) The antitrust policy of the government C) The high rate of corporate income taxes D) The low profit earned by firms after colluding
Suppose the Fed sells $10 million in government securities to a commercial bank. If the required reserve ratio is 0.2, what is the maximum amount by which checkable deposits in the banking system can change?
a. +$10,000,000 b. ?$10,000,000 c. +$50,000,000 d. ?$50,000,000 e. +$20,000,000