In calculating the unemployment rate, part-time workers over the age of 16 are counted as
A) not in the labor force.
B) employed if they are part-time workers for noneconomic reasons and unemployed if they are involuntary part-time workers.
C) not in the working-age population.
D) unemployed.
E) employed.
E
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Refer to Resource Supply/Demand. What does area D represent?
The following questions refer to the accompanying graph, which shows the supply and demand for a resource. The owner of the resource is receiving the price P0 and is providing the quantity Q0.
a. The value that Q0 units of the resource gives to demanders.
b. The revenue generated from selling Q0 units of the resource.
c. The rent that resource owner earns from providing Q0 units.
d. The minimum payment needed for the resource owner to supply Q0 units.
___________ is usually measured by the annual percent change in real output of goods and services per capita
Fill in the blank(s) with the appropriate word(s).
If indifference curves are concave to the origin, which assumption on preferences is violated?
A) Diminishing marginal rates of substitution B) Transitivity of preferences C) More is preferred to less D) Completeness
Thinking as an economist would, which is TRUE of investment?
A. It is the portion of disposable income that is not used for consumption or saving. B. Investment represents spending on capital goods. C. Investment is a stock concept. D. Investment is putting money into stocks and bonds.