To be counted as "employed" in the U.S. labor force statistics, a person
a. must be working for pay and be working full time.
b. must be working for pay but does not have to be working full time.
c. does not have to be working for pay if they are working for a family business but must be employed full time.
d. does not have to be working for pay if they are working for a family business and does not have to be working full time
d
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In order to maximize profits in the short run, a price taker should always produce at the output level where marginal cost is equal to price.
Answer the following statement(s) true (T) or false (F)
According to the IS curve, the tax multiplier is always ________
A) larger in absolute value than the expenditure multiplier B) equal to the expenditure multiplier C) smaller in absolute value than the expenditure multiplier D) equal to one
From 1992 to 2012, many industries have increased in concentration.
Answer the following statement true (T) or false (F)
One feature of pure monopoly is that the firm is ________.
A. a producer of products with close substitutes B. a price taker C. a price maker D. one of several producers of a product