Because of discouraged workers, the unemployment rate
A. tends to behave very erratically.
B. overstates the unemployment problem.
C. understates the unemployment problem.
D. None of the choices are correct.
C. understates the unemployment problem.
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? Scalpers (people selling tickets at a price above the stated price, P*) were spotted at this year’s Super Bowl game. This suggest that
A. P* is less than the equilibrium price. B. P* is greater than the equilibrium price. C. P* is the equilibrium price. D. it’s not possible to determine anything about the equilibrium price with this information.
The above figure illustrates the marginal social benefit and marginal social cost for chicken sandwiches. If the quantity is decreased from 6 to 3 and the price increases from $3 to $4, consumer surplus will decrease by
A) $1.50. B) $2.00. C) $3.00. D) $4.50.
In Table 5.3, the standard deviation is
A) highest for the HMO choice, and it is $76,000. B) lowest for the HMO choice. C) higher for owning one's own practice than for going into research. D) higher for the HMO choice than for going into research.
Total benefits minus total cost equals:
A. gross benefit. B. marginal benefit. C. net benefit. D. incremental benefit.