Who is cyclically unemployed?
A) Katrina, an assistant manager who quit her job to search for a better job closer to home
B) David, a new car salesman who lost his job because the economy went into a recession
C) Samantha, who quit her job to return to college to earn her MBA
D) Casey, who lost his job because the technology changed so he was no longer needed
E) Kathy, a steelworker who was laid off but has stopped looking for a new job because she can't find a new job
B
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Which of the following would not cause market demand for a normal good to decline?
a. An increase in the price of a substitute. b. An increase in the price of a complement. c. A decline in consumer income. d. Consumer expectations that the good will go on sale in the near future. e. An announcement by the Surgeon General that the product contributes to premature death.
Three years ago Dawn put $1,200 into an account paying 2 percent interest. How much is Dawn's account worth today?
a. $1,225.38 b. $1,248.48 c. $1,264.72 d. $1,273.45