The labor force of Rhodia is 50 million, of which 25 million are employed. This implies that the unemployment rate in this country is _____
a. 50%
b. 10%
c. 20%
d. 40%
a
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Which of the following is not an assumption of the decision-making process followed by consumers to maximize utility?
A. The consumer does not consider the prices of the products. B. The consumer behaves rationally. C. The consumer can rank his preferences. D. The consumer has a limited income.
Market equilibrium occurs where the quantity supplied is equal to the quantity demanded
Indicate whether the statement is true or false
Refer to Scenario 15.5. If Catherine stopped smoking, then what is the total amount that Catherine will save on life insurance premiums over the rest of her expected lifespan?
A) $700 B) $14,000 C) $30,000 D) $42,000 E) $56,000
Suppose managers of an art auction house are going to auction a painting that is believed to be painted by a famous artist. If the managers of the auction are able to provide evidence that the painting was created by the famous artist, the participants in the auction will have ________ confidence in their own valuation of the painting and will submit ________ bids.
A) less; lower B) less; more C) more; lower D) more; higher