The president of the United States receives tax policy advice from economists in the
a. Federal Reserve.
b. Department of Justice.
c. Department of the Treasury.
d. Congressional Budget Office.
c
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Rick lost his job as a logistics and distribution coordinator nearly three years ago. After a long and failed search, Rick finally gives up and stops looking for a new job
Rick's decision to suspend his job search causes the unemployment rate to ________ and the labor force participation rate to ________. A) increase; decrease B) decrease; decrease C) stay the same; decrease D) increase; stay the same E) increase; increase
A company town in the lumber or mining industry is an example of a
A) monopoly. B) bilateral monopoly. C) buyer's monopoly. D) monopsony.
If all the firms producing a good in an industry have market shares that are insignificant, that is, close to zero percent of industry sales,
a. they shut down, that is, go out of business in the long run b. their output levels are close to zero as well c. they are in a perfectly competitive market d. profit is at best zero because cost must be at least greater than zero e. they should advertise
Affirmative action laws require employers to hire specified numbers of minorities
a. True b. False Indicate whether the statement is true or false