Every adult who was not employed during the previous four weeks is included in the Bureau of Labor Statistics' "unemployed" category
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose you find $1000 in your attic and decide to deposit it all into your local bank, which must hold 10% as required reserves. The deposit expansion multiplier suggests that this $1,000 "injection" of new money can, in the theoretical limit,
A) increase the money supply by a little more than $1,000. B) increase the money supply by a little less than $1,000. C) increase the money supply by only $1,000. D) increase the money supply by $10,000.
If supply and demand both simultaneously increase
A) the market clearing price definitely rises, and the equilibrium quantity definitely falls. B) the market clearing price definitely rises, and the effect on the equilibrium quantity is indeterminate. C) the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate. D) the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely rises.
The marginal revenue product of labor declines as the number of workers increases because
A. firms must lower prices for the final product when they want to sell more units. B. of the law of diminishing marginal product. C. of diseconomies of scale. D. firms hire the most efficient workers first and the least efficient workers last.
If the supply of oranges is unit elastic, the price elasticity of supply of oranges is
A. 1.0. B. 0.0. C. -1.0. D. -100.0.