In the table above, the unemployment rate is
A) 12 percent.
B) 10 percent.
C) 8 percent.
D) 6 percent.
E) 11 percent.
B
Economics
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A perfectly competitive firm is producing 50 units of output and selling at the market price of $23. The firm's average total cost is $20. What is the firm's economic profit?
A) $23 B) $150 C) $1,000 D) $1,150 E) $50
Economics
In the figure above, at the point where the price is $4 per cup the price elasticity of demand is
A) 2. B) 0.5. C) 1. D) 1.5. E) 0.
Economics
Time lags
What will be an ideal response?
Economics
Perfectly elastic demand is represented as a horizontal line.
Answer the following statement true (T) or false (F)
Economics