Which of the following can make the unemployment rate rise?
A. A decrease in the number of people with jobs.
B. A decrease in the number of people neither working nor looking for work.
C. An increase in the number of people who are looking for work.
D. An increase in the number of people who are looking for work and a decrease in the number of people with jobs.
Answer: D
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The study of the choices made by individual households, firms, and government is called
A) managerial economics. B) market economics. C) macroeconomics. D) microeconomics.
The price of a PC falls or the price of an MP3 download rises? (Draw the diagrams!)
What will be an ideal response?
In cities with rent controls, the actual rents paid can be ________ than the legal maximum. One explanation for this is because there is a ________ of apartments, tenants are ________
A) higher; surplus; often forced to pay rents higher than the law allows B) lower; shortage; rarely willing to pay rents lower than the law allows C) lower; surplus; never willing to pay rents below the legal maximum D) higher; shortage; often willing to pay rents higher than the law allows
How do we determine whether a firm has maximized profits?
What will be an ideal response?