If the working-age population is 20 million and labor force is 13 million, the labor force participation rate is
A) 65 percent.
B) 35 percent.
C) 153 percent.
D) 60 percent.
E) impossible to calculate because data on the number of employed workers is needed.
A
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Suppose the best investment you could make with $100,000 in cash is to purchase a government bond that pays 5 percent interest per year. If you decide to invest the money in your own business instead of buying the government bond, the opportunity cost of this financial capital is
A. $50,000 per year. B. $500 per year. C. $5,000 per year. D. zero, because you already had the $100,000.
Nonprice rationing will happen whenever there is excess supply in a market.
Answer the following statement true (T) or false (F)
Which of the following displays these two characteristics: nonrivalry and nonexcludability?
A) a pure private good B) a pure public good C) a club good D) a common pool resource
Game theory may be used to solve problems of interdependent decision making by large firms
a. True b. False Indicate whether the statement is true or false