Discouraged workers are people who have:
A. not looked for work in over a year because of the condition of the labor market.
B. not looked for work in the past year but would take a job if one was offered to them.
C. looked for work in the past year but decided to leave the labor market to go back to school, retire, or be a stay-at-home parent.
D. looked for work in the past year but have given up looking because of the condition of the labor market.
Answer: D
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What is the pattern of exports and imports in China and India?
A) Exports are heavily subsidized through government policy. B) Many barriers to imports exist. C) Exports and imports are tied together, with exports depending on imported inputs and technology. D) Imports are not important to either nation's economy.
Other things being equal, the behavior of a monopolist differs from that of a competitive industry in that
A) the monopolist does not attempt to maximize economic profit. B) the monopolist hires more labor. C) the monopolist restricts output and hires less labor. D) the monopolist must consider fixed costs in deciding the optimal level of output to produce in the short run.