In a country with a working-age population of 22 million, 16 million are employed, 2 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The unemployment rate is
A) 15.4 percent.
B) 10 percent.
C) 10.3 percent.
D) 11.1 percent.
E) none of the above.
D) 11.1 percent.
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Assume that a house is rented by four students. When it comes to keeping the house clean, each of the four roommates has an incentive to leave cleaning to the others. As a result, the house is never clean
Which of the following is the best solution to this problem of free riding? A) Assign one roommate the responsibility to keep a watch over the other students B) Require every roommate to contribute to a cleaning service C) Ask every roommate to clean the house if they dirty it D) Require each roommate to pay more toward the house rent and groceries
Comment on the following statement: "Capital investment decisions always involve risk."
What will be an ideal response?
For patents to be effective
A) small networks. B) network externalities must be realized. C) property rights need to be enforced. D) there needs to be fewer economies of scope.
When a country allows trade and becomes an importer of a good,
a. domestic producers become better off, and domestic consumers become worse off. b. domestic producers become worse off, and domestic consumers become better off. c. domestic consumers become better off, but the effect on the well-being of domestic producers is ambiguous. d. domestic producers become worse off, but the effect on the well-being of domestic consumers is ambiguous.