Which of the following measures can give some indication of the quality of life in an economy?
A. Child mortality
B. Literacy rates
C. Life expectancy
D. All of these help to assess quality of life.
D. All of these help to assess quality of life.
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The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered unemployed using the official U-3 unemployment rate?
A) A, B, and C B) B, C, and D C) A, C, and D D) C and D
A straight-line isoquant
A) is impossible. B) would indicate that the firm could switch from one output to another costlessly. C) would indicate that the firm could not switch from one output to another. D) would indicate that capital and labor cannot be substituted for each other in production. E) would indicate that capital and labor are perfect substitutes in production.
If MC's Hammers, a perfectly competitive firm, finds that its total revenue is $45,000 . its fixed cost is $20,000 . and its total cost is $50,000 . its producer surplus is
a. zero because TC > TR b. -$5,000 c. $25,000 d. $15,000 e. -$25,000
Other things the same, as the price level rises, the real value of money
a. and the exchange rate rise. b. and the exchange rate fall. c. rises and the exchange rate falls. d. falls and the exchange rate rises.