Which of the following people would be considered unemployed?
A. A young man who has recently received his Ph.
B. A woman who has quit college to move to New York where she is looking for a modeling job
C. A student who plans to look for a job after graduation
D. A 55-year-old steel worker who was laid off 18 months ago and has given up trying to find a job
E. but who is driving a taxi because of an inability to find a teaching job
Answer: B
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If demand increases and supply decreases, the change in the equilibrium price will be ________, and the change in the equilibrium quantity will be ________.
A. uncertain; positive B. positive; uncertain C. positive; negative D. positive; positive
Hyperinflationary episodes are always related to extremely rapid growth of:
A) real GDP. B) money demand. C) interest rates. D) money supply.
Increasing the amount of consumption spending and reducing the amount of savings ________ investment expenditures, and ________ long-run economic growth in the economy
A) decreases; increases B) increases; decreases C) increases; increases D) decreases; decreases
If the cross price elasticity measured between items A and B is positive, the two products are referred to as:
a. complements b. substitutes c. inelastic as compared to each other d. both b and c e. a, b, and c