In normal times the number of discouraged workers is approximately ________ of the labor force.
A. 0.5%
B. 1%
C. 3%
D. 4%
Answer: B
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We call an economy that is self-contained and does not engage in any trade with outsiders a(n):
A. autarky. B. oligopoly. C. oligarchy. D. monarchy.
A good's price elasticity of demand can be calculated by using the formula of
A. absolute change in quantity demanded divided by absolute change in price. B. percentage change in quantity demanded divided by percentage change in price. C. percentage change in price divided by percentage change in income. D. percentage change in price divided by percentage change in quantity demanded.
The knowledge and skill that make for a productive worker are referred to by economists as:
What will be an ideal response?
What makes the demand for some goods elastic and the demand for other goods inelastic?
What will be an ideal response?