The official unemployment rate may not reflect the true state of unemployment because:
a. Some workers may go through the motions of looking for work to keep their unemployment benefits, but not actually be looking for work.
b. Some people who are working in the underground economy may be classified as unemployed
c. Some may leave the labor force and go back to school only because job conditions are currently poor.
d. all of the above.
d
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New growth theory economists believe that:
I. Economic growth can continue as long as we keep finding new ideas. II. The marginal product of capital diminishes very rapidly, so we must rely upon technological advances to create economic growth. A) I only B) II only C) both I and II D) neither I nor II
The marginal cost curve
A) shows the maximum price that a producer must receive to induce it to produce a unit of a good or service. B) shows the minimum price sellers must receive to produce a unit of a good or service. C) is the same as the demand curve. D) shows what buyers are willing to give up to get one more unit of a good or service.