Which of the following would be considered a marginally attached worker?
i. Lou, who worked 15 hours unpaid at her mother's store last month
ii. Sylvia, who is not working and hasn't looked for work in 3 months
iii. Meredith, who is no longer working after taking early retirement from her employer.
A) ii only B) i, ii and iii C) i and ii D) i and iii E) i only
A
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In the above figure, if the two goods A and B, are complements, which of the following is TRUE?
A) The shift from D0 to D1 for good B leads to a shift from S0 to S1 for good A. B) The shift from S0 to S1 for good A leads to the shift from D0 to D1 for good B. C) The law of demand is violated in both markets. D) The cross elasticity of demand between them is positive.
Why don't wages fall so that everyone with the skills and desire gets a job?
A. The government might prevent it, through minimum-wage legislation. B. Labor unions might prevent it, through bargaining backed by the threat to strike. C. Firms themselves might prevent it, by voluntarily choosing to pay higher wages than necessary. D. All of these are reasons why wages may not fall to equilibrium.
Which of the following statements best describes the impact of a higher interest rate?
a. A higher interest rate will attract an inflow of foreign financial capital and depreciate the exchange rate in response to the increase in demand for U.S. dollars by foreign investors and a decrease in supply of U.S. dollars. b. A higher interest rate will attract an inflow of foreign financial capital and appreciate the exchange rate in response to the increase in demand for U.S. dollars by foreign investors and an increase in supply of U.S. dollars. c. A higher interest rate will attract an inflow of foreign financial capital and appreciate the exchange rate in response to the increase in demand for U.S. dollars by foreign investors and a decrease in supply of U.S. dollars. d. A higher interest rate will attract an inflow of foreign financial capital and depreciate the exchange rate in response to the increase in demand for U.S. dollars by foreign investors and a increase in supply of U.S. dollars.
Which of the following is NOT part of classical economic theory?
A. Saving depends upon the rate of interest. B. Full employment is the norm in laissez-faire capitalism. C. Wages and prices are inflexible downward. D. The equilibrium interest rate equals saving and investment. E. Supply creates its own demand.