In a recession, which unemployment rate is the highest?
A) the U-1 unemployment rate
B) the U-6 unemployment rate
C) the U-2 unemployment rate
D) the U-3 unemployment rate
E) None of the above answers is correct because the highest unemployment rate changes from one recession to the next.
B
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Which of the following is likely to have the smallest price elasticity of demand?
A) an automobile B) a new automobile C) a new Ford automobile D) a new Ford Mustang
Which of the following statements about commission systems of compensation is false?
A) During sluggish periods, an employer's payroll expenses will decline along with sales. B) If workers are paid on the basis of the number of units produced, they may become less concerned about quality. C) They increase the risk to workers because sometimes output declines for reasons not connected to the worker's effort. D) The lack of income stability will induce the more productive workers to leave in search of more secure employment.