When the supply of workers is plentiful, one would predict that market wages would be
a. determined solely by factors that affect supply.
b. determined solely by factors that affect demand.
c. low, other things equal.
d. high, other things equal.
C
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GDP measures:
A. expenditure on all final goods and services. B. total income of everyone in the economy. C. total value added by all firms in the economy. D. All of the answers are correct.
Whom does the Bureau of Labor Statistics include in the discouraged worker category?
a. those who are neither disabled, employed nor seeking employment b. labor force members who have chosen early retirement because they dislike their work or think the pay is too low c. people who tried unsuccessfully to find a job and aren't searching for a job any longer d. members of the labor force who are looking for a job but cannot find one e. anyone in the population who is not working