Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the labor force is:
A. 239,000.
B. 260,000.
C. 281,000.
D. 500,000.
Answer: C
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Indicate whether the statement is true or false
The real purpose of the Webb-Pomerene Act of 1918 was to alter the terms of trade in favor of the United States
Indicate whether the statement is true or false
An increase in the price of a complement shifts the demand curve to the
a. right b. left c. it does not change the demand curve d. none of the above
Figure 14.2 represents the market for used cameras. Suppose buyers are willing to pay $125 for a plum (high-quality) used camera and $25 for a lemon (low-quality) used camera. If buyers believe that all of the used cameras in the market are lemons (low quality), what number of used cameras sold will actually be lemons (low quality)?
A. 10 B. 15 C. 20 D. 25