A friend wants to learn how a nation's unemployment rate is calculated and how it changes over time. He asks you which economics course to take and you advise him to enroll in
A) macroeconomics.
B) microeconomics.
C) either micro- or macroeconomics. They both concentrate equally on those issues.
D) political science because economics doesn't address those topics in its courses.
Answer: A
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Other things equal, the higher the price level, the higher is the real wealth of households
a. True b. False Indicate whether the statement is true or false
The marginal cost curve always intersects the average total cost curve at the minimum of average total cost.
Answer the following statement true (T) or false (F)
During the 1990s, food production increased faster than population in all regions of the developing world except
(a) Latin America. (b) East Asia. (c) Sub-Saharan Africa. (d) none of the above.
Which of the following best describes the effects of unions in the United States today?
A) The average union worker works more hours but earns a lower annual income than the average nonunion worker. B) The average union worker works fewer hours but earns a higher annual income than the average nonunion worker. C) The average union worker works more hours and earns a higher annual income than the average nonunion worker. D) The average union worker works fewer hours and earns a lower annual income than the average nonunion worker.