Which one of the following individuals is NOT counted as unemployed?
A) a recent college graduate currently without any employment and looking for her first full-time job
B) a 35-year-old woman fired from her prior work because of poor performance and looking for another job
C) a 50-year-old woman laid off from her former job because of a downturn in the company's sales and looking for another job
D) a 22-year-old aspiring actress currently without any show business employment, but working temporarily as a waitress while she auditions for acting jobs
D
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A mixed economy is one that combines both public and private ownership of property.
Answer the following statement true (T) or false (F)
The ________ the proportion of one's budget spent on a good, the ________ the elasticity of demand
A) greater; lower B) greater; greater C) lower; greater D) lower; more responsive
The slope of a straight line
A) is the same at all points along that line. B) cannot be defined. C) changes from one point to the next on that line. D) is always equal to zero.
Compared to the short-run price elasticity of demand, the long-run price elasticity of demand is
A) smaller. B) the same. C) greater. D) either greater than or less, depending on the number of substitutes the good has.