According to the quantity theory of money, if M's growth is lower than Q's, then:
a. V falls.
b. V rises.
c. P stays the same
d. P falls.
e. P rises
d
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The fact that you may not know who your congressional representative is represents
A) rational ignorance on your part. B) the rival nature of information. C) inefficient oversupply of public servants. D) the use of the median voter theorem.
Refer to Figure 6-2. The absolute value of the price elasticity of demand at points a and b is 1. What is the value of Pb?
A) $50 B) $40 C) $30 D) $20
Dennis is an excellent typist. However, because he has been unable to adapt to his company's new computer system, he has lost his job. He is currently seeking another secretarial position, but it is likely that he will have to acquire new skills to become employable as a secretary again. Dennis would best be described as
a. frictionally unemployed b. seasonally unemployed c. structurally unemployed d. cyclically unemployed e. not in the labor force
The poverty threshold income level is
a. an absolute amount that applies to all families equally (i.e., $20,000 household earnings for 2010). b. variable with respect to family size and composition. c. adjusted once each decade, with the census numbers. d. all of the above.