In line (2) on the graph below, the variables x and y are:
A. Nonlinearly related
B. Directly related
C. Not correlated
D. Inversely related
Answer: C
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A country has a total of 300 million people over the age of 16 who are not in active military or institutionalized. Of those, 200 million have jobs and 20 million are looking for jobs. The unemployment rate is:
A) 2.8% B) 0.0% C) 9.1% D) 2.2%
If the relative price of a concert ticket is three times the price of a meal at a good restaurant, then the opportunity cost of a concert ticket can be measured by the
a. slope of the budget constraint. b. slope of an indifference curve. c. marginal rate of substitution. d. income effect.
The U.S. merchandise trade balance has been in surplus over the last 20 years
Indicate whether the statement is true or false
Which of the following statements about the Supplemental Security Income (SSI) program is FALSE?
A) It is designed to establish nationwide minimum incomes for the aged, the blind, and the disabled. B) Benefits are based on need. C) Recipients who receive benefit payments under Social Security are also eligible for SSI. D) It covers children and individuals with mental disabilities, including drug addicts and alcoholics.