Suppose that the adult population in some country is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately
a. 29%.
b. 18%.
c. 24%.
d. 6%.
a
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Marginal utility is
A. the difference in price between one store and another. B. the difference in value between “some” of a thing and “none” of a thing. C. the difference between any two successive total utility figures. D. acquired only with the first few units of a good or service. E. utility that is barely satisfactory.
Many countries in sub-Saharan Africa have very low labor productivities in many sectors, for example in manufacturing and agriculture
They often despair of even trying to attempt to build their industries unless it is done in an autarkic context, behind protectionist walls because they do not believe they can compete with more productive industries abroad. Discuss this issue in the context of the Ricardian model of comparative advantage.
An increase in the amount of competition with other firms that employ "best practices" would be likely to cause a particular firm's labor productivity to:
A) increase B) stay the same. C) decrease. D) cannot be determined without additional information.
A firm in an oligopoly is similar to a monopoly in that:
A. Both firms do not face competition from others B. Both firms could have significant market power and control over price C. Both firms face very inelastic demand for their products D. Both firms do not need to advertize