The unemployment rate will increase whenever there is a(n):
a. increase in the number of persons classified as unemployed.
b. increase in the number of unemployed persons relative to the size of the labor force.
c. increase in the size of the U.S. population and there is no change in the number of persons classified as employed.
d. reduction in the size of the labor force.
e. reduction in the size of the civilian labor force while the number of unemployed decreases.
b
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"When the cost of producing a unit of a good falls because the firm uses specialized resources to produce a range of goods and services" is the definition of
A) economies of scope. B) economies of scale. C) economic efficiency. D) technological efficiency.
A member of a corporate board of directors that is also a manager of the business is known as
A) a shareholder. B) an inside director. C) a corporate governor. D) a partner.