Assume that in an economy with 200M inhabitants, 90M work, 4M are looking for a job, 3M receive unemployment insurance compensation, and 6M receive unemployment insurance compensation and are looking for a job. What is the unemployment rate?
A) 13%
B) 10%
C) 6.5%
D) 5%
B
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Under a gold standard, countries control
A) its flexible exchange rate. B) monetary policy oriented toward domestic goals. C) international capital movements. D) foreign inflationary policies. E) and avoid risks in international trade.
Calculate the value of the GDP deflator of an economy that has witnessed a 3.5 percent decrease in the general price level in the current year
In theory, in the long run, monopolistically competitive firms earn zero profits.However, in reality there are some ways by which a firm can avoid losing profits. Which of the following is one such way?
A) gradually increase the mark-up on the goods produced B) lower the price of its products to expand its market share C) identify new markets and develop products precisely for those markets D) find a market niche and keep it as narrow as possible so as to prevent other producers from entering this market segment
When you care more about what your friends think of a good or service than what experts or other consumers in general think, you are making the error of ______.
a. assuming complete self-control b. choosing options that are positively framed c. giving too much weight to a small sample d. valuing your personal property too highly