Economists define the unemployed as individuals who are:
A. not currently working.
B. not currently working but are actively looking for work.
C. working but looking for a different job.
D. working less than their desired amount of time.
Answer: B
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Over a period of time both the price and the quantity sold of a certain product have increased. One possible explanation might be that:
a. Supply decreased over time, while demand remained the same b. Demand increased over time, while supply remained the same c. Supply increased over time, while demand remained the same d. Supply increased over time, while demand declined
A dramatic and sustained increase in oil prices would most likely:
A. increase demand-pull inflation. B. decrease demand-pull inflation. C. increase cost-push inflation. D. decrease cost-push inflation.
Firms that produce 90 percent of all smart TVs have shut down their facilities for maintenance. In the smart TV market this will lead to
A. an increase in price and a decrease in quantity. B. an increase in price and an increase in quantity. C. a decrease in price and a decrease in quantity. D. a decrease in price and an increase in quantity.
Net investment equals
A. depreciation plus GDP. B. gross investment minus final sales. C. GDP minus final sales. D. gross investment minus depreciation.