The unemployment rate is the number of people classified as unemployed as a percentage of:
a. the entire population
b. the population over the age of sixteen.
c. the labor force.
d. the number of people over the age of sixteen who are employed.
c
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Refer to Price Ceiling. The price ceiling creates a deadweight loss equal to
The following questions refer to the accompanying diagram which shows the effects of a price ceiling. The initial price and quantity are P0 and Q0, respectively, and the price ceiling is imposed at the price P1. Assume that none of the potential deadweight loss can be avoided.
a. area A + H.
b. area B + C + D + E.
c. area B + D.
d. area C + E.
In the short run, the profit-maximizing firm will ______
A. break even if marginal revenue equals marginal cost B. make an economic profit if marginal cost is less than average total cost C. incur an economic loss if average fixed cost exceeds marginal revenue D. incur an economic loss if average total cost exceeds marginal revenue
Which of the statements below is primarily normative in nature?
A) There is an unequal distribution of income in the United States. B) The distribution of income is more unequal in the United States than it is in Japan. C) The inequality of income that exists in the United States is partly caused by an unequal distribution of wealth. D) The distribution of income in the United States should be more equal than it is.
What are the effects of the double taxation of dividends?
What will be an ideal response?