Which of the following is true?
a. Even intangible goods can be subjected to economic analysis
b. Wealthy individuals who decide to donate money to charity face the constraints of scarcity.
c. Increases in production would not enable us to eliminate scarcity.
d. All of the above
d
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The unemployment rate is defined as the:
A) percentage of civilian non-institutionalized population aged 14 or over that is unemployed. B) percentage of labor force that is unemployed. C) percentage of total population that is unemployed. D) percentage of civilian non-institutionalized population aged 12 or over that is unemployed.
The central macroeconomic concept that is most clearly related to changes in the well-being of the average member of the economy is the
A) unemployment rate. B) inflation rate. C) productivity growth rate. D) None of the above is closely related.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.
If the marginal tax rate equals the average tax rate, the tax would be
A. proportional. B. regressive. C. progressive. D. uniform.