Unemployment rates in the U.S. are generally:
a. higher than in Europe
b. lower than in Europe
c. about the same asin Europe
d. there are no unemployed in Europe
a
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If the price of Sea World tickets increased what might we expect to see happen to tickets for Disneyland?
A. Decreased supply of Disneyland tickets B. Increased demand for Disneyland tickets C. Decreased demand for Disneyland tickets D. Increased supply of Disneyland tickets
Which of the following statements is correct?
A. Average total cost is the difference between average variable cost and average fixed cost. B. Marginal cost measures the cost per unit of output associated with any level of production. C. When marginal product rises, marginal cost must also rise. D. Marginal cost is the price or cost of an extra variable input (for example, an additional worker or machine) divided by its marginal product.
Which of the following is an example of a positive economic statement?
A) The unemployment rate last month was 5.4 percent. B) The unemployment rate last month was too high. C) Because of the high unemployment rate last month the government should increase government spending. D) The unemployment rate should be measured differently because it doesn't include students who can't find jobs.
Suppose prices are quoted in dollars and transactions are conducted in pesos. The peso serves as a
A) medium of exchange. B) store of value. C) unit of account. D) all of the above.