Economic variables that generally turn down before a recession begins and turn back up before the recovery starts are called:
A) leading indicators.
B) coincident indicators.
C) lagging indicators.
D) none of the above.
A
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Barter is
a. illegal in the United States b. an efficient system of exchange c. most useful when there is much specialization and international trade d. only possible if money is used as a medium of exchange e. the direct exchange of goods, without the use of money
The labor force participation rate is defined as
A) the percentage of the working-age population that is unemployed.
B) the percentage of the working-age population that is employed.
C) the percentage of the labor force that is employed.
D) the percentage of the labor force that is unemployed.
E) the percentage of the working-age population in the labor force.
The multiplier effect exists because:
A. production and expenditures are independent. B. production lowers expenditures. C. when one person increases expenditures, everyone decreases expenditures. D. production and expenditures are interdependent.
Suppose a firm uses the following price strategy for every customer. The first two units purchased cost $4 each, and any extra unit costs $3.50. What kind of price discrimination is this?
A) First-degree price discrimination B) Group price discrimination. C) Non-uniform pricing. D) Uniform pricing.