Which of the following is an example of a stock variable?
a. The amount of cereal in a person's pantry
b. The amount of cereal a person buys each week
c. The amount of cereal a child consumes each month
d. The amount of cereal produced each day
e. None of these are stock variables
A
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The labor force participation rate is equal to
A) (labor force ÷ population) × 100. B) (labor force ÷ working-age population) × 100. C) (number of employed workers ÷ labor force) × 100. D) (number of employed workers ÷ working-age population) × 100. E) (number of employed workers ÷ population) × 100.
Policies to create jobs in the nation are the concern of:
a. macroeconomics. b. microeconomics. c. both microeconomics and macroeconomics. d. neither microeconomics nor macroeconomics.
The fundamental problem associated with the U.S. health care system is that:
A. the financing of health care through insurance has resulted in the underallocation of resources to the health care industry. B. frivolous malpractice suits have increased malpractice insurance premiums for doctors. C. at the margin, the value of health care services may be less than the value of alternative goods and services. D. there are too many general practitioners and not enough specialists.
Which of the following is true of a first-price sealed-bid auction?
A) Bidders directly compete with each other. B) Bidders place their bids simultaneously. C) Bidders know each other's bids. D) Bidders always bid below their willingness to pay.