If a person is laid off from a job, he is considered by the Bureau of Labor Statistics to be a
A. new entrant.
B. job leaver.
C. reentrant.
D. job loser.
Answer: D
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Assume an economy has automatic stabilizers in place that include a progressive tax structure and a transfer payment system. Then in a period of high economic growth and high inflation, we would expect:
a. tax revenues to fall and unemployment compensation to rise. b. average tax rates and welfare payments to decline. c. the national debt to become larger. d. average tax rates and government revenues to rise. e. government spending on social security benefits to rise.
The money interest rate may be a misleading indicator of real borrowing costs when
a. the unemployment rate is high. b. the actual rate of unemployment exceeds the natural rate of unemployment. c. the inflation rate is high. d. real output is declining.
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
In any given year, quarterly sales tend to vary as follows:
A. QI > QII > QIV > QIII B. QIII > QIV > QII > QI C. QII > QIII > QIV > QI D. QIII > QII > QI > QIV E. QI > QII > QIII > QIV
The market for Product A has many sellers, selling identical products, each earning an economic profit of zero in the long run. The market for Product B has many sellers, selling differentiated products, each earning an economic profit of zero in the long run. Given this information, one can conclude that
A. The markets for Product A and Product B are perfectly competitive. B. The markets for Product A and Product B are monopolistically competitive. C. The market for Product A is monopolistically competitive and the market for Product B is perfectly competitive. D. The market for Product A is perfectly competitive and the market for Product B is monopolistically competitive.