An unemployment rate of 10% means that the average worker has been unemployed for 10% of the year.
Answer the following statement true (T) or false (F)
False
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Suppose that the quantity of cars demanded exceeds the quantity of cars supplied. We would expect that
A) the price of cars will increase. B) the price of cars will decrease. C) the supply will increase (supply will shift to the right) to meet the demand. D) the demand will decrease (demand will shift to the left) to meet the supply.
Suppose that a price index in Latvia was 120 in 2015 and 150 in 2016. The inflation rate between those two years was approximately
A) 8 percent. B) 12.5 percent. C) 25 percent. D) 30 percent.
Developing countries with large informal sectors tend to have firms that invest less in capital equipment
Indicate whether the statement is true or false
A major distinguishing feature between capitalist and socialist (or command) economies is that
a. under capitalism the average citizen is always wealthier than in socialist economies b. decision making is typically decentralized in socialist economies and is centralized in capitalist economies c. socialist countries all have red flags and capitalistic economies do not d. resources are publicly owned in capitalist economies e. decision making is typically decentralized under capitalism while it is centralized in command economies