Full employment:
a. exists when, on average, nearly two out of three adults in the labor force are employed.
b. exists when everyone who wants a job has one.
c. exists when the unemployment rate is zero
d. exists when everyone in the labor force has a job.
e. will always include some unemployment.
e
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In the United States between the 1970s and the 2000s, the productivity of labor increased. This increase led to
A) an increase in the demand for labor. B) no change in either the demand for or the supply of labor. C) a decrease in the supply of labor. D) a downward shift of the production function. E) an increase in the supply of labor.
In the early 19th century, the Russian government sent doctors to southern Russian villages to provide assistance during a cholera epidemic. The villagers noticed that wherever doctors appeared, people died. Therefore, many doctors were chased away from villages, and some were even killed. This reaction to the correlation between doctors and deaths is most likely a problem of
a. omitted variables. b. reverse causality. c. government propaganda. d. medical incompetence.
On a bank's T-account, which are part of the bank's assets?
a. both deposits made by its customers and reserves b. deposits made by its customers but not reserves c. reserves but not deposits made by its customers d. neither deposits made by its customers nor reserves
According to the Reverend Thomas Malthus
A. population tends to grow until checked by a shortage of food. B. population tends to grow until checked by a shortage of oxygen. C. population tends to grow unless checked by religious or moral restraints. D. economics is a dismal science.