A person 16 years or older who works part-time is officially classified as:
A. chronically unemployed.
B. out of the labor force.
C. employed.
D. unemployed.
Answer: C
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When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure
a. elastic; price; quantity b. unit elastic; price; quantity c. inelastic; quantity; price d. inelastic; price; quantity e. none of the above
What would the Herfindahl-Hirschman Index equal for an industry consisting of six firms with market shares of 40%, 30%, 20%, 5%, 3%, and 2%?
a. 0.95 b. 2.934 c. 2,938 d. 10,000
The statement that "the rich get richer, and the poor get poorer" is supported by evidence of an expanding wage gap between high-skill and low-skill workers
a. True b. False Indicate whether the statement is true or false
Regardless of whether you are looking through the microeconomics microscope or the macroeconomics telescope, the fundamental subject material of the interconnected __________ doesn’t change.
A. market B. economy C. production D. firm