The total population of an economy is 175 million, the labor force is 125 million, and the number of employed workers is 117 million. The unemployment rate for this economy is
A. 7%.
B. 3%.
C. 6%.
D. 5%.
Answer: C
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Market income in the United States is distributed
A) more unequally than income after taxes and benefits. B) less unequally than income after taxes and benefits. C) the same as income after taxes and benefits. D) according to a big tradeoff between equity and equality
For a moving company, all of the following are examples of variable costs, except
a. Gasoline costs b. Truck rents c. Marketing costs d. None of the above
A widget costs $50 in the US and CAD$53 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,
a. The good costs more in the US b. The good costs more in Canada c. The good costs the same across the two countries d. None of the above
Which of the following will not shift the demand curve for grapefruit?
a. An announcement that eating a grapefruit before every meal will induce weight loss. b. A technical development that allows machines to replace the workers who harvest grapefruit. c. An announcement that eating lots of grapefruit causes skin problems. d. A newspaper story reporting that the preference for oranges has skyrocketed. e. An announcement that grapefruit will definitely cost more next week.