Hometown, USA, has a labor force of 78,567 persons and employment of 74,382 . The unemployment rate for the city is:
a. 5.3 percent
b. 5.6 percent.
c. 6.0 percent.
d. none of the above.
a
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A example of a good with external benefits is
A) a pizza. B) a dose of flu vaccine. C) a sewing machine. D) an imported good. E) a pair of running shoes.
Gross domestic product (GDP) is not a perfect measure of welfare because it: a. treats a dollar spent on guns the same as a dollar spent on education. b. treats a dollar spent on exports the same as a dollar spent on imports. c. double counts the value of leisure time
d. double counts depreciation. e. counts illegal activities in the underground economy.
Goods are scarce when:
a. their price is too low. b. their price is too high. c. the amount people want is more than the amount available at a zero price. d. people want less of something as compared to what is available. e. their prices are controlled.
The strategy of faculty choosing to stay with an old edition of a book is
A. in the best interests of publishers. B. likely to reduce the costs to students. C. likely to be replicated by everyone. D. in the best interests of authors.