Suppose the official unemployment rate is 10 percent. We can conclude without question that
a. the same 10 percent of the people in the economy were out of work for the entire year
b. one of every ten people in the labor force is currently unemployed
c. the same 10 percent of the people in the labor force were out of work for the entire year
d. every person in the labor force was out of work for 10 percent of the year
e. 10 percent of the people in the economy were each out of work for 10 percent of the year
B
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Who gains in a voluntary trade?
A) the buyer only B) both the buyer and the seller, but the seller usually gains more C) the seller only D) both the buyer and the seller
A rightward shift of a supply curve
a. represents a decrease in supply b. might be caused by an increase in demand c. might be caused by a price ceiling d. would cause an excess quantity supplied at the previous equilibrium price e. might be caused by a decrease in demand
Foreign aid can take the form of
a. only money, capital goods, or technical assistance b. only capital goods, technical assistance, or food c. money, capital goods, technical assistance, or food d. only money, technical assistance, or food e. only technical assistance or food
How would a $10 increase in an avoidable per-unit fixed cost effect a price-taking firm's supply curve?
A. MC would increase by $10, and AC would not change. B. AC would increase by $10, and MC would not change. C. MC and AC would both decrease by $10. D. MC and AC would both increase by $10.