Isabella is on a temporary layoff from her factory job. If Isabella participates in the BLS survey, she will be classified as
a. unemployed and in the labor force.
b. unemployed and out of the labor force.
c. employed and in the labor force.
d. employed and out of the labor force.
A
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What is the formula for the present value of $1 one year from now? If the rate of interest is 5 percent, what is the present value of $10 to be paid one year from now?
What will be an ideal response?
Average revenue is
a. total revenue minus total cost b. total revenue divided by quantity of output c. total revenue divided by quantity of input d. the change in total revenue divided by the change in output e. the change in total revenue divided by the change in the quantity of an input used
In the intermediate range of the aggregate supply curve, higher aggregate demand will increase:
a. both the price level and real GDP. b. real GDP without raising the price level. c. the price level without affecting real GDP. d. the price level but reduce real GDP.
Differences in the productivity of labor accounts for comparative advantage if:
a. the minimum wage varies across countries. b. the size of the domestic market varies across countries. c. the labor hours required to produce each good varies across countries d. the strength of workforce varies across countries. e. the laborers are paid different wages in different countries.