Which of these represents an example of citizens who would not typically be counted as unemployed?
A) when your economics professor loses his job and gets a new one at McDonald's
B) when your fourteen-year-old cousin loses her summer job in September
C) when your neighbor has been out of work for so long that he decides to stay at home and write a novel
D) all of the above
E) none of the above
D
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The slope of the saving function is the
A) APC. B) MPC. C) APS. D) MPS.
Which of the following is NOT a way to signal high quality
a. wearing a business suit on a job interview b. leaving a big tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Doing messy chores before a big date
Each of the following factors might interfere with the efficiency of perfect competition except:
a. increasing returns to scale. b. imperfect price information. c. externalities. d. diminishing returns to scale.
If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line. B. negatively sloped and "bowed inward" toward the origin. C. negatively sloped and "bowed outward" from the origin. D. a positively sloped straight line.