What is one of the criticisms of measuring unemployment?
a. People who are not employed and not seeking work are counted as unemployed.
b. People who are self-employed but not reporting their income to tax authorities are counted as employed.
c. People who report that they are looking for work, but are not looking very hard, are counted as unemployed.
d. People who do not have jobs and would be available to work but have gotten discouraged at the lack of available jobs in their area and stopped looking, are counted as unemployed.
c. People who report that they are looking for work, but are not looking very hard, are counted as unemployed.
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Inflation makes money an imperfect store of value
Indicate whether the statement is true or false
For firms that sell one product in a perfectly competitive market, the market price is:
A. constant, regardless of quantity sold. B. equal to average revenue for a firm. C. equal to marginal revenue for a firm. D. All of these are true.