The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill
A) employed
B) unemployed
C) a discouraged worker
D) out of the labor force
Answer: A
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The fastest growing source of federal tax revenue is the _____ tax.
A. personal income B. corporate income C. payroll D. excise
Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 3 hours per day. If he is following the marginal principle, what must his marginal cost per hour be?
A. $24 B. $32 C. $40 D. $48
Because a price ceiling causes:
A. a surplus, the outcome will be inefficient. B. a shortage, some form of rationing must occur. C. a surplus, some form of rationing must occur. D. a shortage, the outcome will be efficient.
Which of the following would likely take the longest time to enact?
A) Federal government fiscal policy that strives for a balanced budget B) The Fed's lowering of the discount rate C) The Fed's raising of the discount rate D) The Fed's engagement in open market operations