The principle of comparative advantage applies to
a. individuals only.
b. business firms only.
c. nations only.
d. individuals, businesses, and nations.
d. individuals, businesses, and nations.
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If prejudice originates with employers, market forces work to reduce discrimination and lower wage differences between the favored and unfavored groups
a. True b. False
Less money supply
What will be an ideal response?
In an economy with a population of 100 million persons, 50 million hold civilian jobs and 20 million are not working but are looking for a job. The unemployment rate is
A) 28.6%. B) 20% C) 25% D) 13.33% E) There is not enough information to answer this question.
Exhibit 17-1 Inflation and unemployment rates
In Exhibit 17-1, when the unemployment rate goes from 3 percent to 9 percent,
A. the level of inflation is unaffected. B. the inflation rate goes from 8 percent to 14 percent. C. the inflation rate goes from 8 percent to 3 percent. D. the inflation rate goes to 0 percent.