Core inflation is defined as
A. inflation that takes health care and energy into account.
B. inflation that does not take health care and energy into account.
C. inflation that does not take energy and food into account.
D. inflation that takes energy and food into account.
Answer: C
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American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers. for the US, what is the opportunity cost of a car?
a. 2.5 tons of grain b. 0.4 tons of grain c. 10 tons of grain d. 5 tons of grain
To be officially classified as unemployed, a person must be
A. at least 16, not working and actively seeking employment. B. collecting unemployment benefits. C. at least 21 and not working. D. laid off or fired.
Refer to above figure. If the economy were in the initial position (where OmL1 workers were in manufacturing, what trade policy might gain ABC of economic welfare?
What will be an ideal response?
Most people buy insurance because they
a. are risk lovers b. enjoy the gamble c. are risk neutral d. are risk averse