If scalping is defined as selling tickets for more than face value, outlawing scalping with perfect enforcement of the law will cause
A. sellouts.
B. a surplus.
C. a shortage.
D. sellouts not to exist.
Answer: C
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Marginal utility theory predicts that a rise in the price of a banana results in
A) the demand curve for bananas shifting rightward. B) the demand curve for bananas shifting leftward. C) a movement upward along the demand curve for bananas. D) a movement downward along the demand curve for bananas.
The quantity of real GDP demanded increases if _______
A. the buying power of money increases B. the money wage rate rises C. the price level falls D. the nominal interest rate falls
Which of the following categories will be included under state and local government spending in the U.S.?
a. Science and technology b. Health care c. Police and fire protection d. International affairs
Exhibit 12-2 Unemployment categories Category# ofIndividuals Frictional unemployment 20 Structural unemployment 35 Cyclical unemployment 60 Discouraged workers 5 Underemployed workers 10 Fully employed workers410 Population900 Find the BLS's rate of unemployment from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000.
A. 17.5 percent B. 23.3 percent C. 38.3 percent D. 39.3 percent