In a small country, there are 5,000 people in the labor force and 3,000 people are employed. The labor force participation rate equals
A) 40 percent.
B) 60 percent.
C) 62.5 percent.
D) an undetermined amount given the lack of information.
D
Economics
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A) market value B) reservation value C) shadow value D) discounted value
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The efficient quantity of gasoline to sell in Motorland is
A) 1.7 million gallons per month. B) 1.8 million gallons per month. C) 1.6 million gallons per month. D) 1.9 million gallons per month.
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For a necessity good, the price elasticity of demand is: a. close to zero
b. close to 1. c. greater than 1. d. close to infinity.
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If marginal utility is zero, total utility is
A) falling. B) zero. C) at its maximum. D) negative.
Economics