Briefly explain why the reported official unemployment rate in Spain in 1994 may have provided an over-estimate of unemployment in Spain
What will be an ideal response?
The relatively high unemployment rate in Spain is partly the result of a relatively large underground economy. The underground economy is that part of the economy not measured in official statistics. After taking into account those individuals who are "employed" in the underground economy, the unemployment rate in Spain would have been lower (but still relatively high).
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Which of the following would most likely cause the demand for veggi burgers to increase?
a. A decline in the price of veggie burger. b. An increase in the price of tofu burgers, perceived as a substitute by veggie burger consumers. c. An increase in the price of burger buns. d. A technological innovation that lowers the cost of producing veggie burgers.
Any point on the production possibilities frontier is called
A) unemployment. B) inefficient. C) unobtainable. D) full employment.
If sales of Saudi Arabian oil to the rest of the world increase and Saudis use the proceeds to buy foreign goods, which of the following increases?
a. Saudi Arabian net exports but not Saudi Arabian net capital outflow b. Saudi Arabian net capital outflow but not Saudi Arabian net exports c. both Saudi Arabian net exports and net capital outflow d. neither Saudi Arabian net exports nor net capital outflow
Pure private goods are nonrival in consumption.
A. True B. False C. Uncertain