The labor force includes
A. permanent employees but excludes temporary employees.
B. full-time workers but excludes part-time workers.
C. employed workers but excludes persons who are officially unemployed.
D. employed workers and persons who are officially unemployed.
Answer: D
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The three functions of money are
A) store of value, medium of exchange, payment specie. B) store of value, unit of account, bank settlement. C) store of value, unit of account, to regulate the economy. D) store of value, unit of account, medium of exchange.
Which of the following correctly defines the average propensity to consume (APC)?
A) change in planned consumption divided by change in real disposable income B) planned consumption divided by real disposable income C) real disposable income divided by planned consumption D) change in real disposable income divided by change in planned consumption
A pure private good has two characteristics: rivalry and excludability. Rivalry suggests that a private market, rather than the public sector, should produce the good, and excludability suggests a private market will provide it
a. True b. False
A study showing that eating ranch salad dressing might be harmful to one’s health slightly reduces the demand for the product. However, a new bottling method greatly increases the production of this dressing. Considering this, the equilibrium quantity of this dressing would ______.
a. decrease b. increase c. remain constant d. be indeterminate