The term "unemployed" includes all people who want a job, but don't have one
a. True
b. False
Indicate whether the statement is true or false
False
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When tax revenues minus outlays is
i. positive, the government has a budget surplus. ii. negative, the government has a budget deficit. iii. zero, the government has a balanced budget. A) iii only B) ii and iii only C) i and ii only D) i only E) i, ii, and iii
When a second firm enters a market, the original firm's profits decline because:
A. the original firm's price decreases. B. the original firm's ATC increases. C. the original firm's quantity decreases. D. All of these are correct.
The underground economy can be described as
A) production of intermediate goods and services. B) economic production that includes mining. C) production of infrastructure that spurs growth in the rest of the economy. D) economic activity that is hidden from the government to avoid taxes or because the activity is illegal.
Output supply is increasing in the interest rate because
A) labor demand is increasing in the interest rate. B) labor demand is decreasing in the interest rate. C) labor supply is increasing in the interest rate. D) labor supply is decreasing in the interest rate.