Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate decreases.
b. increases, and the labor-force participation rate is unaffected.
c. is unaffected, and the labor-force participation rate decreases.
d. and the labor-force participation rate are both unaffected.
a
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The Gini ratio in Brazil was over 0.6 in 1990 and fell to 0.5 in 2010. This change means that over this time inequality ________ and the Lorenz curve moved ________ the 45 degree line
A) increased; closer to B) increased; further away from C) decreased; closer to D) decreased; further away from
Big Alice Ice Cream Parlor reduced its price of an ice cream cone from $1 to 90 cents. Sales consequently increased from 1,000 cones per week to 1,050 cones per week. The approximate price elasticity is
A. 0.20. B. 0.46. C. 2.16. D. 5.00.
You own your business, and your research indicates that the price elasticity of demand for your product is 3.5. What pricing strategies should you follow, and why?
What will be an ideal response?
What is a commodity money system?
What will be an ideal response?