What is the unemployment rate if there are 170 million people employed, 25 million people unemployed, and 35 million not in the labor force?
A. 10.9%
B. 14.7%
C. 12.8%
D. 13.7%
Answer: C
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Use the table below to answer the following question.PriceQuantity Supplied$101089684726Over the $8 to $6 price range, supply is
A. zero. B. unit-elastic. C. elastic. D. inelastic.
The market for fish is perfectly competitive. So, the price elasticity of demand for fish from a single fishing boat
A) is less than the elasticity of demand for fish overall. B) equals the elasticity of demand for fish overall. C) is greater than the elasticity of demand for fish overall. D) is sometimes greater than and sometimes less than the elasticity of demand for fish overall.
The more elastic the supply of a product, the more likely it is that the burden of a tax will
a. fall on sellers. b. fall on buyers. c. fall equally on both buyers and sellers. d. be borne by the public sector, and not by market participants.
When estimating a short-run average variable cost function,
A. the intercept must be forced to equal zero. B. the cost data must be inflation-adjusted. C. at least one input must have been constant during the period in which the data were collected. D. both b and c E. all of the above