Consider the utility function 
. Which of the following are true statements about the indifference maps represented by this function.
A.
.B.
.C.
.D.
E.
Answer: A
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The size of the labor force is
A) equal to the size of the population. B) equal to the working-age population. C) less than the number of employed workers if the number of unemployed workers is small enough. D) less than the number of unemployed workers if the number of employed workers is small enough. E) greater than the number of employed workers as long as there are some unemployed workers.
If the government increases expenditure by $40 billion and increases tax revenues by $40 billion, what is the impact on aggregate demand? Explain your answer
What will be an ideal response?
The wage a person requires before accepting a job is referred to as the ________ wage.
A. compensating B. reservation C. psychological D. minimum
Who from among the following would be classified as out of the labor force?
A. Mario Faubert, a NHL hockey player at home sick with the flu. B. Jack Little, a 21 year old new college graduate actively looking for his first job. C. Amanda Pie, a full-time homemaker. D. Brenda Smith, an 18 year old college student employed part-time at a fast food restaurant.