People who do not work because of physical disability are officially classified as:
a. in the labor force.
b. unemployed.
c. not in the labor force.
d. discouraged worker.
c
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Factors of production include
A) the economic system. B) land, labor, capital and entrepreneurship. C) labor and capital (not land, which is fixed). D) only capital, land, and labor.
Which of the following statements is true?
a. Expected inflation rate = real interest rate - nominal interest rate. b. Nominal interest rate = real interest rate + expected inflation rate. c. Real interest rate = nominal interest rate + expected inflation rate. d. Nominal interest rate = real interest rate - expected inflation rate. e. Expected inflation rate = nominal interest rate + real interest rate.
If there is no output for which product price is sufficient to cover variable costs
A) the firm should stay open in the short-run. B) the firm should shut down in the short run. C) the firm earns economic profits by staying open. D) the firm should increase production.
A microeconomist might study which of the following?
a. how inflation changes over time for several countries b. how money supply aggregates are measured c. economic growth in less-developed countries in Africa d. the relationship between aggregate income and aggregate personal consumption e. why wages for females are lower than for males in a particular labor market