A shortage tends to put ________ pressure on the price of the product, which ________ the quantity demanded
A) upward; increases
B) upward; decreases
C) downward; increases
D) downward; decreases
B
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Refer to the table above. What is the market supply of labor per week when the wage rate is $50?
A) 12 hours B) 30 hours C) 50 hours D) 71 hours
High tariffs on intermediate inputs
A) increase the effective rate of protection on final goods. B) have no impact on the effective rate of protection on final goods. C) decrease the effective rate of protection on final goods. D) lower the nominal rate of protection on final goods. E) raise the nominal rate of protection on final goods.
Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately:
a. 10 percent. b. 12 percent. c. 17 percent. d. 20 percent. e. 25 percent.
Chinese private companies get their capital largely from:
a. The Whenzou market b. Private banks c. IPOs d. State banks e. Government grants