What is the price of a TV in an open economy with a quota?
A. $75
B. $150
C. $100
D. $125
Answer: D
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An unpaid worker in a family business is classified as
A) not in the labor force. B) employed no matter how many hours the person worked in the previous week. C) unemployed no matter how many hours the person worked in the previous week. D) employed if the person worked at least 15 hours in the previous week. E) unemployed only if the person worked no hours in the previous week.
The above table shows the distribution of income and wealth in Miseria. What percent of income is earned by the richest twenty percent?
A) 5 percent B) 20 percent C) 45 percent D) 55 percent
Ceteris paribus, the fear among travelers created by the 9-11 attacks would have what impact on the market for air travel?
a. an increase in equilibrium price and an increase in equilibrium quantity. b. an increase in equilibrium price and a decrease in equilibrium quantity. c. a decrease in equilibrium price and an increase in equilibrium quantity. d. a decrease in equilibrium price and a decrease in equilibrium quantity.
If employees lose jobs because their skills are obsolete, or their company has moved to another location, this is called:
frictional unemployment cyclical unemployment structural unemployment seasonal unemployment