Between September 2013 and September 2014 the number of economic part-time workers decreased from 7.9 million to 7.1 million. Assuming the change resulted from economic part-time workers transitioning to full-time jobs, this change created
A) no change to the U-3 unemployment rate.
B) a decrease to the U-3 unemployment rate.
C) an increase to the U-3 unemployment rate.
D) an increase in the employment-to-population ratio.
A
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The U.S. federal income tax is classified as a
A. Regressive tax only. B. Regressive or flat tax, but not a progressive tax. C. Progressive tax only. D. Flat tax only.
Suppose that the percentage change in supply is 50%, the price elasticity of demand is 4, and the price elasticity of supply is 1. The equilibrium price will:
A. decrease by 10 percent. B. increase by 55 percent. C. increase by 10 percent. D. decrease by 55 percent.
If ________, then a profit-maximizing, monopolistically competitive firm earns negative economic profits.
A. P < ATC B. P = ATC C. P > ATC D. All of the above are possible.
The Apple iPhone is sold in a box labeled "Made in China." A study by economists at the Asian Development Bank found the value of the iPhone components China ________ U.S. firms is ________ the value of assembling the iPhones in Chinese factorie
A) imports from; less than B) imports from; greater than C) exports to; greater than D) exports to; equal to