The employment/population ratio is the number of persons employed divided by the number of persons
a. in the labor force.
b. unemployed.
c. employed plus the number unemployed.
d. in the civilian population age 16 and over.
D
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The parity price ratio is defined by the equation
a. prices paid by farmers prices received by farmers b. prices received by farmersprices paid by farmers c. loans received by farmersprices paid by farmers d. prices received by farmerstotal farm subsidies e. total farm loans total farm subsidies
Assuming MPC = 0.5, a $2,000 decrease in intended investment will shift the aggregate expenditure curve down by
a. $2,000 and will decrease the equilibrium level of national income by $2,000 b. $2,000 and will decrease the equilibrium level of national income by less than $2,000 c. $2,000 and will decrease the equilibrium level of national income by more than $2,000 d. more than $2,000 and will decrease the equilibrium level of national income by more than $2,000 e. less than $2,000 and will decrease the equilibrium level of national income by less than $2,000
Figure 10-6
In Figure 10-6, the price at long-run equilibrium is
a.
$5.
b.
$10.
c.
$20.
d.
$35.
A perfectly competitive firm will earn positive economic profits in the range of output for which the firm’s price is _________ its minimum average total cost.
A) below B) above C) equal to D) below its marginal cost and