Retirees are included in the Bureau of Labor Statistics' "not in the labor force" category
a. True
b. False
Indicate whether the statement is true or false
True
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The consumer price index is used to monitor changes in an economy's production of goods and services over time
a. True b. False Indicate whether the statement is true or false
The Lorenz curve
A. shows what portion of the population are living in poverty and what portion are living in wealth. B. breaks down the income levels of each group in the economy. C. shows what portion of total money income is accounted for by different proportions of the nation's households. D. shows what portion of the population is working as professionals, white- and blue-collar, workers and workers at menial tasks.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
When Burger Barn hires one worker, 20 customers can be served in an hour. When Burger Barn hires two workers, 50 customers can be served in an hour. The marginal product of the second worker is ________ customers served per hour.
A. 15 B. 30 C. 40 D. 67.5