Engaging in any activity using any? resource, even? time, involves trading off the use of that resource for one or more alternative uses.
a. true
b. false
a. true
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If some of unemployed individuals became discouraged workers, which of the following would result?
a. The labor force would decrease and the unemployment rate would decrease. b. The labor force would decrease and the unemployment rate would remain the same. c. The labor force would increase and the unemployment rate would decrease. d. The labor force would decrease and the unemployment rate would increase. e. The labor force would increase and the unemployment rate would remain the same.
Labor-market discrimination is evident when
a. wages of individuals differ on the basis of some recognizable attribute that is unrelated to productivity. b. wage rates differ for similar jobs. c. consumers prefer to shop at some stores, and not at others. d. wages reflect workers' human capital.
Which of the following is an example of something that economists would consider a cost but accountants would not?
A. the wages paid to employees of a firm B. the wages that the owner of a firm could have earned in some alternative job C. rent paid to a business's landlord D. the cost of leather used in the production of footballs
For 2016, the maximum taxable income for Social Security purposes is
A. $118,500. B. $97,500. C. unlimited. D. $51,125.