Andrea Burris lost her job in a company layoff 5 months ago. She would take a job if one was offered, but she has given up looking for work until the economy improves. She is:
a. a member of the civilian labor force who is employed.
b. a member of the civilian labor force who is unemployed.
c. a member of the civilian labor force who is underemployed.
d. a discouraged worker who is not a member of the labor force.
e. now structurally unemployable.
d
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The real wage rate is the ________ divided by the ________
A) equilibrium quantity of employment; potential GDP B) nominal wage rate; inflation rate C) nominal wage rate; price level D) quantity of labor demanded; quantity of labor supplied E) quantity of labor supplied; quantity of labor demanded
Countries that adopt the most advanced technologies will have
A. stagnant labor productivity. B. highly productive labor and capital. C. decreasing profitability. D. constant returns to scale.
Suppose present interest rates are relatively high. Financial investors will hold
A) smaller speculative balances because they expect bond prices to fall further. B) larger speculative balances because they expect bond prices to fall further. C) smaller speculative balances because they do not expect bond prices to fall further. D) larger speculative balances because they do not expect bond prices to fall further.
If the government undertakes expansionary fiscal policy, it:
A. should force people to change their spending patterns. B. expects aggregate demand to decrease. C. expects aggregate demand to increase. D. could increase income taxes.