The Bureau of Labor Statistics places people in the "employed" category if they
a. are without a job, but are available for work and have tried to find a job during the previous four weeks.
b. work without pay in a family member's business.
c. are waiting to be recalled to a job from which they had been laid off.
d. All of the above are correct.
b
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What two important functions are performed by the price system?
What will be an ideal response?
The most important factor in determining the long-run profit potential in monopolistic competition is
A) free entry and exit. B) the elasticity of the market demand curve. C) the elasticity of the firm's demand curve. D) the reaction of rival firms to a change in price.
In the absence of discrimination, as human capital investments increase, wages will generally
A) decrease. B) increase. C) not change. D) increase or decrease.
Why can a monopoly not sell all that it desires at any given price?
What will be an ideal response?