In an economy, 40 million people are employed, 2 million are unemployed, and 8 million are not in the labor force. What is the labor force participation rate?
A) 83 percent
B) 84 percent
C) 80 percent
D) 87.5 percent
B
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A standard that identifies a pollution limit to be achieved without defining the technology to be used is called a(n)
a. ambient standard c. technology-based standard b. performance-based standard d. efficient standard
The finite nature of the economy's resource base
a. will be solved if only we would learn to conserve b. arises out of people's insatiable appetite for goods c. is only a problem in developing countries d. will disappear as technology advances e. will persist indefinitely
Buying insurance and then never making a claim:
A. means buying the insurance was a bad decision. B. does not mean buying the insurance was a bad decision. C. is a poor use of money. D. is considered by economists to be irrational behavior.
If the price-consumption curve is upward sloping when the price of the good measured on the horizontal axis changes, then the demand curve for that good will be upward sloping
Indicate whether the statement is true or false