The unemployment rate is the number of unemployed people, expressed as
a. a ratio of total employed to the population.
b. a ratio of unemployed to the total employed.
c. a percentage of the labor force.
d. a percentage of the population.
c
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Can the U.S. dollar and the euro both appreciate relative to each other? a. Yes, both countries can gain in this manner
b. Yes, provided the central banks agree to permit it. c. No, if one currency appreciates relative to another, the other depreciates. d. No, the citizens of the countries would not agree to it.
After being introduced in 1999, the euro
a. increased in value through 2008. b. decreased in value through 2008. c. increased in value through 2000 but then decreased in value through 2008. d. decreased in value through 2000 but then increased in value through 2008.
A monopoly produces X at a marginal cost of $80 per unit and charges a price of $100 per unit. Determine the elasticity of demand at the profit-maximizing price of $100.
A. ?0.2 B. ?0.8 C. ?5 D. There is insufficient information to determine the monopoly's price elasticity of demand.
(Figure: Good X) From the figure, the maximum price that consumers are willing to pay for _____ units of Good X is _____ per unit.
Fill in the blank(s) with the appropriate word(s).