Through good economic years and bad, many European economies had unemployment rates hovering near _________ since the 1970s.
A. 40%
B. 10%
C. 20%
D. 15%
Answer: B. 10%
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The CPI market basket
A) weights the goods and services according to the budget of an average urban household. B) determines the best possible way of taxing the average urban household. C) determines how the spending patterns of the average urban household change from month to month. D) determines how spending patterns change from urban household to urban household. E) changes from one month to the next in order to calculate the CPI.
According to the text, a government policy of promoting competition must
A) assure small businesses they won't fail because of below-cost pricing or other predatory practices by larger businesses. B) assure small businesses they won't fail under any circumstances. C) equate profit margins among competing suppliers. D) maintain a process rather than some state of affairs. E) work toward making sellers' demand curves completely elastic.
A rent ceiling set above the equilibrium rent
A) decreases the quantity demanded but not the quantity supplied. B) decreases the quantity supplied but not the quantity demanded. C) decreases both the quantity demanded and the quantity supplied. D) has no effect on the market outcome.
Opportunity cost can always be measured in money terms
a. True b. False Indicate whether the statement is true or false