The labor force divided by the working age population equals the:
A. participation rate.
B. unemployment rate.
C. population rate.
D. employment rate.
Answer: A
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The market process avoids creative destruction
Indicate whether the statement is true or false
The sum of internal and external costs is
A) private cost. B) social cost. C) opportunity cost. D) common property.
Fill in the blank(s) with the correct words. Hint: along inside outside
a. Points ________ the production possibilities frontier are possible and efficient. b. Points ________ the production possibilities frontier are possible but not efficient. c. Points ________ the production possibilities frontier are not possible.
If the tax function is T = t0 + t1Y where t1 equals 1/3, and if the marginal propensity to consume out of disposable income is 3/4, then the change in GDP per unit change in t0 (?Y/?t0) will be
a. ? 1. b. + 1. c. ? 1.5. d. ? 2. e. + 1.5.