The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the unemployment rate is
A) 5.5 percent.
B) 1,619 thousand.
C) 3.5 percent.
D) 3.7 percent.
E) 5.8 percent.
A
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An increase in U.S. prices relative to Japanese prices will
A) decrease both U.S. exports and imports. B) increase total planned spending on U.S. goods and services. C) increase U.S. imports and decrease U.S. exports. D) decrease U.S. imports and increase U.S. exports.
Failing to be fully informed may be efficient if information
A) is free. B) is scarce. C) is subject to increasing returns. D) has no opportunity cost of production.
Suppose Motorland's government imposes a tax of $1.50 per gallon of gasoline sold. With the tax, the market will
A) underproduce by 0.2 million gallons of gasoline a month. B) underproduce by 0.1 million gallons of gasoline a month. C) overproduce by 0.1 million gallons of gasoline a month. D) produce the efficient quantity of gasoline.
For substitutes, cross price elasticity of demand is:
a. Negative b. Positive c. between zero and one only d. zero.