The employment-population ratio is
a. percentage of the population unemployed
b. percentage of the population employed
c. the same as the unemployment rate
d. always greater than 1
e. percentage of the population employed by the private sector.
B
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Cash distributions made by government to individuals when no good or service is received in exchange are known as __________.
a. poverty payments b. taxes c. transfer payments
Price discrimination, where different units of a good are sold for different prices
A) is impossible because there can only be one market price. B) can be effectively practiced by all monopolists. C) maximizes consumer welfare because each consumer pays only the price he or she is willing to pay. D) is possible if the good cannot be resold.
If Bolivia can produce 6 calculators or 3 televisions in a day, and Argentina can produce 4 calculators or 12 televisions in a day, then Bolivia would be willing to trade 1 calculator for 1 television with Argentina
a. True b. False Indicate whether the statement is true or false
The barter system is rarely used today because: