The quantity and quality of a country's labor, land, and natural resources are that country's factor endowments.
Answer the following statement true (T) or false (F)
True
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Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?
What will be an ideal response?
Consider the monopsony in the above figure. The monopsony will hire ________ hours per week
A) 200 B) 400 C) 600 D) None of the above answers is correct.
For the past 40 years, growth in health care spending has outpaced growth in the rest of the economy by _____ percentage point(s) annually.
a. 2-3 b. over 6 c. 4-5 d. less than one
The price of cookies in terms of gallons of milk per cookie is 0.6 and the price a gallon of milk in terms of pounds of butter per gallon is 1.2. What is the relative price of cookies to butter?
A) 1.39 B) 0.6 C) 0.72 D) 0.50