According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is
A. considered unemployed.
B. considered underemployed.
C. counted as a "not currently working" member of the labor force.
D. not a member of the labor force.
Ans: D. not a member of the labor force.
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Measuring total production by valuing items at their market value allows us to
A) separate the value of different goods with identical prices. B) separate the value of different goods with different prices. C) add together the value of different goods that have different prices. D) add together the value of identical goods that have identical prices. E) ignore the problem that goods and services differ in how long they last.
A firm earns $600 of total revenue from selling its product at $200 per unit. If the per-unit cost of producing the good is $150, the firm sells ________ units(s) of the good
A) 1 B) 2 C) 3 D) 4
Which of the following will cause the U.S. money supply to expand?
a. a commercial bank uses excess reserves to extend a loan to a customer b. a commercial bank purchases U.S. securities from the Fed as an investment c. an increase in reserve requirements d. an increase in the discount rate
Suppose a small closed economy has GDP of $5 billion, consumption of $3 billion, and government expenditures of $1 billion. Then investment and national saving are both $1 billion
a. True b. False Indicate whether the statement is true or false