If the number of people classified as unemployed is 20,000 and the number of people classified as employed is 400,000, what is the unemployment rate?
A. 2.0%
B. 4.8%
C. 5.0%
D. 9.2%
Answer: B
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Figure 2-5 shows five different combinations of rockets and cruise ships that a country could manufacture. Suppose it decided to produce 18 rockets and 12 cruise ships. Which of the following would be true?
a. This combination could not be produced.
b. The country will be at point B.
c. The country will be at point C.
d. The country will not be fully utilizing its resources.
e. The country will be at the midpoint of points B and D.
If firms have to spend money on creating and protecting their monopoly power, they're going to buy:
A. no monopoly power. B. more monopoly power than if it were free. C. less monopoly power than if it were free. D. the same monopoly power as if it were free.
Developing countries (DVCs) can be subdivided into the following groups, except:
A. Low-income economies B. High-income economies C. Lower-middle-income economies D. Upper-middle-income economies
Refer to the above graph. The short-run aggregate supply curve would be represented by which line?
A. 1 B. 2 C. 3 D. 4