The total labor force consists of:
a. the entire population
b. the population over the age of sixteen.
c. the number of officially employed persons.
d. the number of officially employed persons plus the number of officially unemployed persons.
d
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Fill in the blank: A productive service is a ________ service
A) supplied B) demanded C) technically efficient D) marketed
The social cost of production equals
A. the external cost minus the private benefit. B. the external cost minus the external benefit. C. the private cost plus the external cost. D. the social cost plus the private cost.
Figure 4-21
Which price in Figure 4-21 is equilibrium?
a.
P1
b.
P2
c.
P3
Exhibit 3-6 Milk market Price per Quart Quantity Demanded (Quarts per week) Quantity Supplied (Quarts per week) 0.70 20 180 0.60 60 140 0.50 100 100 0.40 140 60 0.30 180 20 In Exhibit 3-6, which of the following are the equilibrium price and equilibrium quantity in the milk market?
A. $0.70 per quart and 200 quarts of milk. B. $0.30 per quart and 100 quarts of milk. C. $0.50 per quart and 100 quarts of milk. D. $0.40 per quart and 60 quarts of milk.