During the recessions of 2001 and 2008-09,
A) all measures of the unemployment rate (U-1 through U-6 ) increased.
B) only the broader measures of the unemployment rate increased.
C) only the narrower measures of the unemployment rate increased.
D) the labor force participation rate for women increased.
E) the labor force participation rate for men increased.
A
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The marginal revenue curve for a perfectly competitive firm
A) is the same as its demand curve. B) is perfectly inelastic. C) is downward-sloping. D) is the same as its marginal cost curve.
Deposits with the Federal Reserve Bank are part of a commercial bank's
A) capital. B) reserves. C) loans. D) liabilities.
Dave recently began running his father's farm. Last year he took in $15,000 in sales revenue and paid $10,200 in out-of-pocket costs. He made an economic loss last year:
a. if his implicit costs were $3000. b. if his implicit costs were $4000. c. if his implicit costs were $5000. d. In none of the above cases.
What is the difference between a necessity and a luxury?
What will be an ideal response?