By the completeness property, if neither A > B nor B > A hold, then:
A. the consumer is indifferent between A and B.
B. the consumer prefers bundle A.
C. the consumer prefers bundle B.
D. None of the statements is correct.
Answer: A
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Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in Year 3?
A) 1.7 percent B) 2.0 percent C) 7.7 percent D) 5.9 percent
The table above gives some of the accounts of the United States in 2020
a) What is the private sector balance? b) What is the government sector balance? c) What is net exports?
Which of the following is correct?
A. There is no relationship between MP and MC. B. When AP is rising MC is falling, and when AP is falling MC is rising. C. When MP is rising MC is rising, and when MP is falling MC is falling. D. When MP is rising MC is falling, and when MP is falling MC is rising.
The labor force participation rate is equal to
A) (labor force ÷ population) × 100. B) (labor force ÷ working-age population) × 100. C) (number of employed workers ÷ labor force) × 100. D) (number of employed workers ÷ working-age population) × 100. E) (number of employed workers ÷ population) × 100.