Which of the following statements correctly differentiates between unemployed workers and discouraged workers?
A) Unemployed workers refer to the skilled workers who have been laid off, while discouraged workers refer to the unskilled workers who have lost their jobs.
B) Unemployed workers are counted in the labor force, but discouraged workers are excluded from the labor force.
C) Unemployed workers do not have a paid job, while discouraged workers have a paid job.
D) The unemployment benefits received by unemployed workers are not capped, while the unemployment benefits received by discouraged workers are capped at a maximum.
B
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Which of these statements about economic models is correct?
a. For economists, economic models provide insights about the world. b. Economic models are built with assumptions. c. Economic models are often composed of equations and diagrams. d. All of the above are correct.
The cost of adding a third worker to a shift in a manufacturing plant is less than the current average cost of adding workers. If the third worker is added, the average cost for the manufacturing plant ______.
a. will rise b. will fall c. will remain unchanged d. cannot be known
In a discussion of economics, which of the following would exert the most influence on an individual firm's decision to hire workers?
A. wage levels B. the macroeconomy C. the firm's income D. household income
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C