The civilian labor force consists of:
A. all civilians over the age of 16.
B. the employed plus the unemployed who are not in the military.
C. only individuals who are actually at work during a given week.
D. civilians who are not in prisons or mental hospitals.
Answer: B
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A) increase; accumulating B) increase; depleting C) decrease; depleting D) decrease; accumulating
You have just been elected President of the United States, based on your campaign promise to buy everyone a new sport utility vehicle. What are your funding options for this spending program, and what are the implications of each option?
If the current market price of good Z is below the equilibrium price of good Z
A) it must be because the government has imposed a price ceiling in the market for good Z. B) there is a shortage of good Z. C) there is a surplus of good Z. D) demand must necessarily decrease to restore equilibrium. E) a and b
If the price elasticity of supply is 1, supply is:
A. unaffected by price changes. B. inelastic. C. unit elastic. D. elastic.