Each person who is 16 years or older is considered to be in one of the following categories:
A. part-time worker, full-time worker, or unemployed.
B. employed, unemployed, or discouraged worker.
C. part-time worker, full-time worker, or out of the labor force.
D. employed, unemployed, or out of the labor force.
Answer: D
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Monetary payments a firm makes to pay for resources are called
A. explicit costs. B. implicit costs. C. opportunity costs. D. normal profit.
At the point at which the consumption function intersects the 45 degree reference line
A) planned real consumption of real disposable income equals zero. B) planned real saving equals real disposable income. C) planned real consumption equals real disposable income. D) equilibrium output is supply determined equilibrium output is determined by both.
If it costs Danitra $225 to create 4 necklaces and $275 to create 5 necklaces, then the marginal cost of producing the 5th necklace is $50
Indicate whether the statement is true or false
Behavioral economists argue that asset price bubbles and other examples of herd behavior may be due to biases resulting from the law of small numbers
In particular, the investors may observe unusually ________ returns for some asset and use this limited information to ________ the probability that returns will be high in the future. A) low, over-estimate B) low, under-estimate C) high, over-estimate D) high, under-estimate