By excluding discouraged workers from the labor force,
A. the unemployment rate would fall.
B. labor productivity increases.
C. the unemployment rate would rise.
D. the unemployment rate stays the same.
Answer: A
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When the marginal-cost curve lies above the average-total-cost curve, the average-total-cost curve slopes up and the average-variable-cost curve slopes down
a. True b. False Indicate whether the statement is true or false
Which of the following is true? a. Velocity is not constant over time
b. The best way to study economic activity is to start with the equation and then integrate the money supply and the volume of international trade. c. Control over the money supply implies that the Fed has precise control over real GDP. d. All of the above are true.
If the income elasticity of a good is negative, we can conclude that the good is
a. an inferior good. b. a normal good. c. a luxury good. d. a necessity.
The ______ the demand curve, the _____ responsive is the amount demanded to price.
A. steeper; less B. steeper; more C. flatter; less D. higher; less