One point virtually all economists agree on when defining money is that:
a. money must be spendable
b. money must be liquid.
c. money must be accepted as payment.
d. all of the above are correct.
d
Economics
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The price elasticity of demand for labor will be smaller, the
A) smaller is the price elasticity of demand for the final product. B) easier it is to employ substitute inputs in production. C) larger is the proportion of wage costs in the total cost of production. D) longer is the time period under examination.
Economics
In an economy with a population of 100 million persons, 40 million hold civilian jobs and 9 million are not working but are looking for jobs. The number counted as unemployed is
A) 91 million. B) 9 million. C) 51 million. D) 40 million. E) 49 million.
Economics