Labor resources:
a. include only physical activities.
b. are only counted as a resource if used in the production of other resources.
c. include only skilled labor.
d. include both physical and mental activities.
e. include human effort involved in the production of goods, but not services.
d
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John Steinbeck's Cannery Row describes a character who takes his own life because of poor job prospects. If he was an unemployed person who gave up looking for work, he would be considered:
a. chronically unemployed. b. a discouraged worker. c. a member of the labor force. d. frictionally unemployed.
Keynesian economists argue that monetary policy works through its effects on:
a. interest rates and investment. b. price- and wage-flexibility. c. budget deficits and trade deficits. d. the spending and money multipliers.