The rate of unemployment is calculated as the number of
A) people in the civilian labor force divided by the number of unemployed.
B) employed workers divided by the number of unemployed workers.
C) unemployed divided by the number of people in the civilian labor force.
D) unemployed workers divided by the number of employed workers.
C
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One of the major reasons why the United States exports jet airplanes is because Boeing faces ________ opportunity cost compared with firms in other nations in the production of such aircraft
A) a higher B) an unrelated C) a lower D) a nonexistent E) an identical
If the Palace Cinema can sell 200 tickets at $4 and 300 tickets at $3, the demand for Palace Cinema tickets between the two prices is
A) elastic. B) inelastic. C) marginal. D) unit elastic.
Refer to Scenario 1. Immediately following Sheila's $100,000 deposit into her checking account, Perez Bank
A) has no excess reserves. B) has $10,000 in excess reserves. C) has $90,000 in excess reserves. D) has $100,000 in excess reserves.
The role that dead capital plays in a country's economic growth is that
A. growth neither increases nor is impaired by dead capital. B. growth increases because the dead capital is replaced with more technologically efficient capital. C. growth increases since the firms using the dead capital are using it for free. D. growth is impaired since the capital cannot be allocated to its most efficient use.