When the goods of competing companies are identical, consumers have no reason to prefer one product over the other, so the demand curve for each manufacturer will be perfectly elastic.

Demand deposits are termed so because:

A) depositors can withdraw money from such deposits at any point of time. B) there are no limitations on the amount of money that can be deposited into such accounts. C) depositors can demand any rate of interest on such deposits. D) most consumers want to open such accounts as they are greatly in demand.

Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate

A) employed B) a discouraged worker C) not in the labor force D) unemployed E) underemployed