Full-time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category
a. True
b. False
Indicate whether the statement is true or false
False
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If the world price for a good is above a nation's pre-trade equilibrium price, then the nation
A) will export the good. B) will import the good. C) will neither export nor import the good. D) cannot gain from trade. E) Both C and D.
Suppose Quarto Inc produces and sells dresses in a perfectly competitive market. Which of the following would be the firm's profit-maximizing outcome?
a. The firm earns a total revenue of $250 if it produces 10 dresses at a total cost of $500. b. The firm earns a total revenue of $1,000 if it produces 20 dresses at a total cost of $800. c. The firm earns a total revenue of $3,000 if it produces 30 dresses at a total cost of $1,000. d. The firm earns a total revenue of $3,500 if it produces 40 dresses at a total cost of $2,000.
The most important role of the Federal Reserve in today's US economy is
A. Negotiating with foreign nations to reduce the enormous trade deficit B. Controlling the money supply to pursue economic objectives C. Balancing the government's budget by increasing taxes and cutting spending
Nondiscretionary Fiscal Policy works by having
A. Congress and the President agree upon a tax cut to stimulate growth. B. progressive income tax rates take a portion of increased income thereby dampening periods of growth. C. welfare programs reduce spending on people when they have increased incomes, thereby dampening periods of economic growth. D. both progressive income tax rates take a portion of increased income and welfare programs reduce spending on people when they have increased incomes thereby dampening periods of economic growth.