In a country with 200 million people aged 16 years and older, 120 million are in the labor force, and 114 million are employed, what is the unemployment rate?
A. 6 percent
B. 5 percent
C. 7 percent
D. 4 percent
Answer: B
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Technological progress directly raises output, but also slows capital deepening
Indicate whether the statement is true or false
Physicians who accept assignment on their Medicare patients
a. bill patients for 80 percent of the allowable fee. b. agree to forego balance billing. c. accept the allowable fee for all services. d. agree to charge private insurance patients the same fees as Medicare patients. e. Both b and c.
Which of the following states the definition of supply?
A. More of a good is supplied at a lower price. B. There is a positive relationship between the price of a good and the quantity that buyers want to purchase. C. There is a positive relationship between the price of a good and the quantity offered for sale by suppliers. D. There is a negative relationship between the price of a good and the quantity offered for sale by suppliers.
If demand is inelastic, a reduction in price will lead to a drop in total revenue.
Answer the following statement true (T) or false (F)