Which one of the following people is not considered by the BLS as belonging to the labor force?
a. a full-time student at Nassau Community College who devotes all her time to her classes
b. Roger Cherrier, who works 30 hours a week at Burger King and goes to school at night
c. David Reinblatt, who was fired last week and immediately started searching for a new job
d. the President of the United States
e. Matt George, who plays professional hockey for the minor league team the Hershey Bears and concedes that he would play for nothing because of the love of the sport
A
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The last time the U.S. Post Office raised its prices for mail service critics of the rate increase argued that the Post Office's revenues would actually decline as a result of the price increase. It can be concluded that:
A) both groups believe demand is elastic, but for different reasons. B) both groups believe demand is inelastic, but for different reasons. C) the Post Office believes demand for mail service is elastic; opponents of the price increase believe demand is inelastic. D) the Post Office believes demand for mail service is inelastic; opponents of the price increase believe demand is elastic.
National income is defined as gross national product minus
a. depreciation and net taxes. b. national income. c. depreciation. d. personal disposable income.
If the interest rate on saving is 5 percent per period, then the true opportunity cost of being paid $100 next period instead of this period is
a. $5. b. $105. c. less than $5 if people suffer from a "defective telescopic faculty." d. more than $5 if people suffer from a "defective telescopic faculty."
The amount of corporate profits not paid out in dividends is known as
A. Retained earnings. B. The price/earnings ratio. C. The par value. D. Corporate stock.