The employment rate equals the number of
A) employed persons divided by the number of unemployed persons.
B) unemployed persons divided by the civilian non-institutional population.
C) employed persons divided by the civilian labor force.
D) employed persons divided by the civilian non-institutional population.
E) none of the above
D
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Which factor of production does human capital enhance?
i. land ii. labor iii. capital A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
A sales tax imposed on tires ________ consumer surplus and ________ producer surplus
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; does not change
Refer to the above table. If opportunity costs are constant and the two countries trade
A) the United States should specialize in computers and Mexico in bicycles. B) the United States should specialize in bicycles and Mexico in computers. C) the United States should specialize in both bicycles and computers, and Mexico should specialize in neither. D) there will be no trade because they are so different.
Figure 4-5
If the suppliers of a good will sell any amount at $30 but there are no sales, then the market can best be represented by which graph in Figure 4-5?
a.
1
b.
2
c.
3
d.
4