In measuring the unemployment rate, part-time workers are ________, and discouraged workers are ________
A) included as employed; included as unemployed
B) excluded; included as unemployed
C) included as employed; excluded
D) excluded; excluded
E) included as unemployed if they are involuntary part-time workers; excluded
C
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All of the following will cause an outward shift of the investment function EXCEPT
A) innovation that improves production efficiency at every level of output. B) a reduction in business taxes. C) business people becoming optimistic about the future. D) a decrease in the interest rate.
In the financial crisis that precipitated the 2007-2009 recession, people systematically overestimated their prospects for financial gain. Which branch of economics would most likely have expected to predict this?
A. Neoclassical economics. B. Keynesian economics. C. Behavioral economics. D. Classical economics.