To determine the unemployment rate, the Bureau of Labor Statistics polls a sample population of _____.
(A) 50,000 families
(B) 80,000 unemployed individuals
(C) 80,000 families
(D) 50,000 unemployed individuals
Ans: (A) 50,000 families
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In a small European country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.03 B) 3.3 C) 33.3 D) 333
Refer to Figure 4-3. Kendra's marginal benefit from consuming the first ice cream cone is
A) $9.00. B) $7.50. C) $3.50. D) $0.50.
Refer to Scenario 15.1. If the interest rate falls,
A) the present value of this contract will fall. B) the present value of this contract will be unaffected. C) the present value of this contract will rise. D) Jacob will be paid less than $10 million each year. E) Jacob will be paid more than $10 million each year as he can invest the money.
When consumption of a good creates positive externalities,
a. the private demand curve shifts rightward b. the private demand curve shifts leftward c. the private demand curve is below the marginal social benefit curve d. the private demand curve is above the marginal social benefit curve e. the equilibrium quantity determined by the free private market is too high