Persons who have given up looking for work are classified as
a. unemployed.
b. discouraged workers.
c. in the labor force.
d. temporarily unemployed.
b
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The tendency of opportunity cost to increase as production increases
A. is an example of theory that has not been proven by facts. B. is a general principle, but not a universal fact. C. is a universal fact, with no known exceptions. D. rarely holds in reality, but is a useful theory. E. cannot be tested with standard economic tools.
Manufacturing, employment, monetary, and consumer expectations statistics are examples of lagging indicators
Indicate whether the statement is true or false
In the production function Y = A(G,P,T) F(K,R,H,N), the exogenous factors are
A) G,R,H. B) G,P,T. C) P,T,K. D) P,R,G.
If multiplier effects are ____ than policy makers expect or the natural rate of real output is _____ than expected, monetary policy will tend to undershoot its intended effects
a. Greater; greater. b. Greater; less c. Less; greater d. Less; less