When an individual quits his/her job and decides to stay at home for a while, the labor-force participation rate
A. decreases.
B. stays the same.
C. increases.
D. may increase or decrease, depending on the length of time he/she stays at home.
Answer: A
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The figure above shows the market for brooms. If the market is efficient,
A) 0 brooms are produced. B) 600 brooms are produced. C) more than 1000 brooms are produced. D) between 0 and 600 brooms are produced. E) between 600 and 1000 brooms are produced.
Refer to Scenario 15.2. If the interest rate were 20%, Furry Software should
A) retool the offices. B) rewire the network. C) move to Southern California. D) be indifferent between retooling and rewiring. E) be indifferent between retooling and moving.
If two individuals have identical schooling, their incomes will be equal.
Answer the following statement true (T) or false (F)
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.