Which of these people is neither employed nor unemployed?
a. Vince, a 17 year old, who is working at a bakery to pay his tuition bills
b. Jack, an employee fired last month, who is not actively looking for a paid job
c. Kate, a software engineer, who is working as a software developer
d. Dave, a professional chef, who is working at a restaurant
b
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Information can be thought of as a
A) non-economic piece of data. B) violation of the invisible hand idea that the pursuit of self-interest promotes social interest. C) good whose marginal benefit is infinite. D) good whose marginal benefit decreases as more information is acquired.
Assuming that the average duration of its assets is five years, while the average duration of its liabilities is three years, then a 5 percentage point increase in interest rates will cause the net worth of First National to decline by ________ of
the total original asset value. A) 5 percent B) 10 percent C) 15 percent D) 25 percent
Consumer equilibrium exists when:
a. the marginal utility of each good and service consumed is equal. b. the total utility of each good and service consumed is equal. c. the marginal utility of each good and service consumed equals its price. d. ratio of marginal utility to price for all goods and services is equal.
Farmers can produce wheat and/or rice. What will happen in the wheat market if there is an increase in demand for rice?
a. Wheat supply will increase. b. Wheat supply will decrease. c. Wheat demand will increase. d. Wheat demand will decrease. e. Wheat supply and demand will increase.