Expert Answers /
(Solved): Question 23 Suppose Joseph is 72 years old, disabled, and living at home with his son. Suppose furt ...
Question 23 Suppose Joseph is 72 years old, disabled, and living at home with his son. Suppose further that he has neither worked nor looked for a job in the last eight weeks. According to the BLS household survey, Joseph would be classified as Select one: A. unemployed. B. not in the labor force. C. employed. D. not in the civilian noninstitutional population.
Question 22 The Kapauku people of the mountains of New Guinea used shells in a number of different economic activities. Among the uses of shells were the following: payment in shells was made to buy tobacco and pork, shells were passed on to heirs as an inheritance, and shells were paid to settle obligations in the political organization of the society. Which of the following functions of money is NOT being fulfilled in the above examples? Select one: A. Medium of exchange. B. Means of unilateral payment. C. Unit of account. D. Store of value.
Notyetantwed Pointrout of 1 Plazquestion In which of the following situations is it most advantageous to be borrowing? Select one: A. The real interest rate is 4 percent and the nominal interest rate is 7 percent. B. The nominal interest rate is 1 percent and the real interest rate is 0 percent. C. The real interest rate is 2 percent and the nominal interest rate is 10 percent. D. The nominal interest rate is 4 percent and the real interest rate is -2 percent.