Which of the following would be considered a "leisure" activity by economists?
A. Mopping the floor at McDonald's for minimum wage
B. Mopping your kitchen floor
C. Folding sweaters while working at the Gap
D. None of these activities would be considered leisure.
B. Mopping your kitchen floor
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What is the shape of a monopolist's demand curve and marginal revenue curve?
What will be an ideal response?
When the Fed wants to raise interest rates after banks have accumulated large amounts of excess reserves, it would
A) increase the interest rate paid on excess reserves. B) increase discount rate. C) increase the required reserve ratio. D) conduct massive open market purchase.
The Bureau of Labor Statistics counts underemployed persons as those who are currently working:
A. in a job for which they are overqualified for. B. in a field that doesn't add a lot to overall GDP. C. less hours than their employer requires full-time workers to work. D. less than they would like to be.
Bob works for a firm that produces umbrellas. He receives payment for his labor. The firm wants to expand but lacks the capital needed for the expansion. Bob, a person of some means, provides the capital. What market(s) are these payments made in?
a. illegal market b. goods and services market c. product market d. resource market e. umbrella market