Which statement is true?
A. No one receiving public assistance is employed.
B. Some people receiving public assistance are employed.
C. More people were receiving public assistance in 2007 than in 1994.
D. According to current law, no one will be eligible to receive public assistance by the end of 2012.
B. Some people receiving public assistance are employed.
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The unemployment rate may overestimate the true extent of unemployment if: a. many part-time employees would like to work full-time, but are unable to get the additional work. b. many people become discouraged and cease looking for work
c. people falsely claim that they are actively seeking work in order to receive unemployment benefits. d. all of the above
The United States is capable of producing many goods and services that it imports, but it does not because
A. We have lost those skilled workers. B. We can export goods that we specialize in. C. We produce those goods more cheaply if we make them ourselves. D. We can import those goods at a lower opportunity cost than if we make them ourselves.
Refer to the information provided in Figure 5.6 below to answer the question that follows.
Figure 5.6Refer to Figure 5.6. The market is initially in equilibrium at Point A and supply shifts from S1 to S2. Which of the following statements is true?
A. Price will still serve as a rationing device causing quantity supplied to exceed 12 thousand pizzas. B. The market cannot move to a new equilibrium until there is also a change in demand. C. Price will still serve as a rationing device causing quantity demanded to fall from 12 to 10 thousand pizzas. D. There is no need for price to serve as a rationing device in this case because the new equilibrium quantity exceeds the original equilibrium quantity.
If a binding price floor were placed in the market in the graph shown:
A. the demand curve would have to shift. B. quantity demanded would exceed quantity supplied. C. quantity supplied would exceed quantity demanded. D. the supply curve would have to shift.