A decrease in the price of a good will
a. increase demand
b. decrease demand.
c. increase quantity demanded.
d. decrease quantity demanded.
c
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The length of time people spend in search of a job increases if
A) there is a sudden change in technology. B) the population ages. C) the criteria necessary to qualify for unemployment benefits increases. D) unemployment benefits increase. E) the minimum wage is decreased.
Suppose the official unemployment rate is 10 percent. We can conclude without question that:
a. the same 10 percent of the people in the economy were out of work for the entire ear. b. one of every 10 people in the civilian labor force is currently unemployed. c. the same 10 percent of the people in the civilian labor force were out of work for the entire year. d. every person in the civilian labor force was out of work for 10 percent of the year. e. 10 percent of the people in the economy were out of work for 10 percent of the year.
If a society uses the market system, it must rely solely on markets to solve all of its problems
a. True b. False Indicate whether the statement is true or false
According to the principle of diminishing returns to labor, if the amount of capital and other inputs are held constant, employing additional workers:
A. increases output at a constant rate. B. increases output at an increasing rate. C. decreases output at an increasing rate D. increases output at a decreasing rate.