The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets.
Answer the following statement true (T) or false (F)
True
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Suppose that Mel (who is 27 ) is not working, but looked for a job as recently as 2 months ago. Mel would like a job and he is available for work. He is considered
A) unemployed. B) a member of the labor force and unemployed. C) a member of the labor force, but not unemployed. D) a member of the working-age population E) a marginally attached worker.
Export subsidies lead to
A) greater production of exportables and higher internal prices for these goods. B) greater production of exportables and lower internal prices for these goods. C) greater production of importables and higher internal prices for these goods. D) None of the above.
A person who is risk averse will like gaining $1,000 more than they will dislike losing $1,000
a. True b. False Indicate whether the statement is true or false
A reduction in the saving rate will not affect which of the following variables in the long run?
A) output per worker B) the growth rate of output per worker C) the amount of capital in the economy D) capital per worker E) none of the above