If N is the working-age population, Q is the labor force, and U is the number of unemployed, then the unemployment rate is measured as
A) U/N
B) U/Q
C) U/(N-Q)
D) Q/N
B
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Which of the Ten Principles of Economics do governments run into when they redistribute income to achieve greater equality?
a. Trade can make everyone better off. b. The cost of something is what you give up to get it. c. People face trade-offs. d. Markets are usually a good way to organize economic activity.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
If a country has an open economy and embraces free trade, citizens, on average, will benefit from ______ income levels and living standards
Fill in the blank(s) with the appropriate word(s).
Why does an increase in the supply of computers lead to a lower price for a computer?
What will be an ideal response?