In an economy, 180 million workers are employed out of a labor force of 200 million and a total population of 310 million. The unemployment rate is:
a. 3.1 percent
b. 1.85 percent
c. 10 percent
d. 5 percent
c. 10 percent
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If a college wanted to increase its revenues from tuition payments, should it increase the tuition of day and evening students alike?
What will be an ideal response?
If the demand for fast-food rises as a result of lower income, we would say fast-food is an inferior good
a. True b. False Indicate whether the statement is true or false
In which statement(s) is "supply" used correctly? (I) "An increase in the price of flour will increase the supply of flour." (II) "As the cost of producing flour rises, the supply of flour will tend to fall."
a. in both statements I and II b. in statement I only c. in statement II only d. in neither statements I nor II
Assume the MPC is 0.75, taxes increase by $100 billion, and government spending increases by $100 billion. Aggregate demand will
A. Increase by $100 billion. B. Decrease by $400 billion. C. Increase by $400 billion. D. Not change.