How big is the labor force? # of employment 800 # of unemployment 200 Not in labor force
A. 250
B. 800
C. 1000
D. 1050
E. 850
C. 1000
(800 + 200 = 1000)
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A college bookstore offers both new and used Physics 101 textbooks. Vicki pays $120 for a new copy, Darrel pays $85 for a used copy. Who made an economically efficient choice?
A) Vicki B) Darrel C) Both Vicki and Darrel D) Neither one of them—they could have found a better deal on the Internet.
In the figure above, a single-price unregulated monopoly will produce an amount of output equal to
A) h. B) j. C) k. D) none of the above.
When the total external and internal costs of a transaction are taken into consideration, this is known as
A) public costs. B) average total costs. C) social costs. D) marginal costs.
Goods that are both excludable and rival are referred to as _____
a. common resources b. natural resources c. public goods d. private goods