If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then demand for textbooks is:
A. negative.
B. inelastic.
C. unit elastic.
D. elastic.
Answer: B
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The American Federation of State, County, Government and Municipal Employees is an example of a(n)
A) guild. B) craft union. C) industrial union. D) public-sector union.
Which of the following is an example of a monopolistically competitive firm?
a. a frozen yogurt shop b. a pharmaceutical firm c. Honda Motor Corporation d. DeBeers Diamonds
Who is included in the labor force by the Bureau of Labor Statistics?
a. Tina, who worked most of the week in a steel factory b. Kelly, who is temporarily laid off but expects to be recalled c. DJ, who does not have a job but is looking for work d. All of the above are correct.
The Current Population Survey interviews approximately how many households each month?
A) 5,000 B) 10,000 C) 60,000 D) 100,000