Suppose that last week 100,000 people lost their jobs or quit. We can say that
A) the number of unemployed increased by less than 100,000 people because we should not count those who quit their jobs.
B) the 100,000 people represent a stock known as the new unemployed.
C) the number of unemployed increased by 100,000 people.
D) the 100,000 people represent a flow known as job departures.
D
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Aside from being a means of payment, the other functions of money are
A) medium of exchange and the ability to buy goods and services. B) medium of exchange, unit of account, and means of lending. C) pricing, contracts, and store of value. D) medium of exchange, unit of account, and store of value.
The height of the market demand curve
a. at any quantity shows the value — to someone — of the last unit of the good consumed b. shows the market value of a good or service c. increases as more of a good or service is consumed d. shows the cost of producing each unit of a good or service e. measures the side payment necessary to achieve economic efficiency
Successful entrepreneurs
What will be an ideal response?
Farm groups spend considerable amounts of money to maintain and enlarge political support for farm subsidies. This illustrates:
A. coalitions. B. rent-seeking activity. C. the special-interest effect. D. the voting paradox.