Most American workers
a. are employed in the goods-producing sector.
b. are employed by government.
c. are employed in the service-producing sector.
d. are employed in the agricultural sector.
c
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Assuming a 5-percent decrease in both the nominal (money) wage and 5-percent increase in the price level in the classical model, then
a. both the quantity supplied and demanded of labor will increase. b. the quantity supplied of labor will increase and the quantity demanded of labor will decrease. c. both the quantity supplied and demanded of labor will decrease. d. the quantity of labor supplied and demanded would remain constant.
Self-interest
A) implies that a person must try to increase wealth at all times. B) implies that people will not give away wealth. C) is consistent with many goals that people pursue, including betterment of others. D) applies only to people in market settings.
Using Table 6.1, the inflation rate for 2004 would be 
A. 3.3% (((190.3-184.3)/184.3)*100 %). B. 90.3% (190.3-100). C. 6.0% (190.3-184.3). D. 2.6% (190.3-180.9)/(2*180.9)*100%).
Which is the best example of specialization?
A) a high school math teacher who teaches only calculus B) a firm that produces both luggage and cooking oil C) a person whose job includes accounting, personnel, and maintenance tasks D) a high school math teacher who teaches algebra and calculus