The unemployment rate measures the percentage of
A) people who want full-time jobs, but can't find them.
B) the working-age population who can't find a job.
C) people in the labor force who can't find a job.
D) the working-age population that can't find a full-time job.
E) employed people who can't find a job.
C
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A monopolist can make an economic profit in the long run because of
A) the relatively elastic demand for its product. B) the relatively inelastic demand for its product. C) the firm's price setting behavior. D) barriers to entry.
Historically, many businesses have preferred specialized task assignment for employees over broad task assignments. Why has this been the case?
What will be an ideal response?
Fiscal policy refers to
A) changes in the amount of government expenditures and taxes to achieve particular economic objectives. B) changes in the composition of a given amount of government expenditures to achieve particular economic objectives. C) changes in interest rates initiated by government action. D) any change in government spending or taxes that has the intended effect of destabilizing the economy.
Which of the following is not consistent with the efficient market hypothesis?
a. Stock prices should follow a random walk. b. Index funds should typically outperform highly managed funds. c. News has no effect on stock prices. d. There is little point in spending many hours studying the business pages looking for undervalued stocks.