The labor force participation rate is calculated as:
A) (number of unemployed) ÷ (labor force).
B) (number of employed) ÷ (adult population).
C) (number of employed + number of unemployed) ÷ (labor force).
D) (labor force) ÷ (adult population).
D
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Which of the following equations describes government saving?
A) T - TR - INT - G B) T - TR - INT + G C) T - TR + INT - G D) T - TR + INT + G
If it costs View Your World, a high-end window manufacturer, $20 per window to install a higher quality glass in its windows and consumers will pay an additional $28 per window for the improvement, which of the following is true?
A) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost. B) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement is less than the marginal cost. C) View Your World should not install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost. D) View Your World should install the higher quality glass because the marginal revenue from the quality enhancement exceeds the marginal cost.
Peyton Lopez will exploit the aquifer under his ranch as long as his personal marginal __________ is __________ __________ his personal marginal __________
a. cost, greater than, benefit b. benefit, greater than, cost c. cost, equal to, benefit d. benefit, less than, cost e. benefit, equal to, cost
A consumer chooses an optimal consumption point where the
a. marginal rate of substitution exceeds the relative price ratio. b. slope of the indifference curve equals the slope of the budget constraint. c. ratio of the prices equals one. d. All of the above are correct.