The unemployment rate is the number of
A) people looking for work divided by the population.
B) jobless individuals divided by the total labor force.
C) jobless people looking for work divided by the population.
D) jobless individuals looking for work divided by those employed and unemployed but actively looking.
D
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Dane has a car valued at $20,000 that gives him a utility of 80. There is a 5 percent chance that he will have an accident that will make his car worthless, in which case his utility will be zero. His utility from a wealth of $15,000 is 76
The maximum amount Dane will be willing to pay for insurance is A) $1,000. B) $3,000. C) $5,000. D) $15,000.
Which of the following pairs of goods would be most likely to be substitutes?
A) pasta and pasta sauce B) olive oil and vegetable oil C) chips and salsa D) tires and automobiles E) all of the above
Which of the following is the most liquid asset?
A) a Renoir painting B) bonds C) a car D) money
Under an assumption of monetary neutrality, a change in the nominal money supply has
A. a more than proportionate effect on the price level. B. no effect on the price level. C. a proportionate effect on the price level. D. a less than proportionate effect on the price level.