A person 16 years or older who works part-time is officially classified as:

A. chronically unemployed.
B. out of the labor force.
C. employed.
D. unemployed.

Answer: C

Economics

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Large countries can improve their welfare by levying a tariff only if it does not

A) encourage rent seeking elsewhere in the economy. B) discourage innovation. C) lead to retaliation by the nation's trading partners. D) All of the above. E) None of the above.

Economics

Which of the following is not a drawback of utilitarianism?

a. There exists no valid way to make interpersonal utility comparisons. b. Is incompatible with the Pareto criteria. c. It is not directly compatible with economic efficiency. d. It implies social arrangements that most people would find objectionable.

Economics