The unemployed are those people who:
A. Do not have jobs
B. Are not employed but are seeking work
C. Are not working
D. Are not in the workforce
B. Are not employed but are seeking work
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The process through which an economy's production possibilities curve is shifted outward is:
A) comparative advantage. B) economic growth. C) full employment. D) specialization.
In Walnut Creek, California, there are three very popular supermarkets: Safeway, Whole Foods, and Lunardi's. While Safeway remains open twenty-four hours a day, Whole Foods and Lunardi's close at 9 pm. Which of the following statements is true?
A) Safeway can ignore the pricing decisions of the other two supermarkets. B) Safeway is a monopoly all day because it produces a service that has no close substitutes. C) Safeway has a monopoly at midnight but not during the day. D) Safeway probably has a higher markup to compensate for its higher cost of production.