According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?
a. Black males had higher labor-force participation rates and lower unemployment rates compared to white males.
b. Black males had both higher labor-force participation rates and higher unemployment rates compared to white males.
c. Black males had both lower labor-force participation rates and lower unemployment rates compared to white males.
d. Black males had lower labor-force participation rates and higher unemployment rates compared to white males.
d
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If the exchange rate is 0.8 euro per dollar, one dollar is equal to 1.25 euros
Indicate whether the statement is true or false
Consumer surplus in a market can be represented by the
a. area below the demand curve and above the price. b. distance from the demand curve to the horizontal axis. c. distance from the demand curve to the vertical axis. d. area below the demand curve and above the horizontal axis.
The value-added approach of measuring GDP does not do the following.
A. It includes the revenue a firm receives from selling a product minus the amount paid for goods purchased from other firms. B. It includes only the value-added portion from the sale of goods and services. C. It includes only the second-to-the-last value of the intermediate good used. D. It avoids double counting.
For a monopolist:
A. price equals average total cost. B. price is above marginal revenue. C. marginal revenue equals zero. D. marginal cost equals zero.