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.
c
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Are developing country cities too large, too small, or about right in size? Justify your answer with evidence from developing economies
What will be an ideal response?
External economies of scale will ________ average cost when output is ________ by ________
A) reduce; increased; the industry B) reduce; increased; a firm C) increase; increased; a firm D) increase; increased; the industry E) reduce; reduce; the industry
Consumption spending that is independent of the level of income is known as
a. marginal consumption b. transitory consumption c. permanent consumption d. relative consumption e. autonomous consumption
When a person wants to buy a used car, asymmetric information may land her with a “lemon” because:
a. neither she nor the dealer can know everything about the car. b. a used car is in a lower-risk category for insurance purposes. c. a used car that has been in an undisclosed accident could have alignment problems. d. the car dealer knows more about the car than she does.