The unemployment rate equals the number of unemployed divided by the ________, all times 100
A) number of employed
B) labor force
C) working-age population
D) total population
Answer: B
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Which of the following is true? In the above figure, if the market is
A) a monopoly, output will be Q1 and price will be P3. B) a monopoly, output will be Q3 and price will be P3. C) perfect competition, output will be Q2 and price will be P2. D) perfect competition, output will be Q1 and price will be P1. E) perfect competition, output will be Q3 and price will be P3.
Firms that seek to avoid hiring lazy workers that assert they are hardworking are trying to avoid
A) adverse selection. B) moral hazard. C) screening. D) signaling.
The idea that the Lorenz curve should be along the 45 degree line is consistent with
A) the productivity standard. B) the egalitarian principle. C) the conservative principle. D) none of the above.
In 2014 , the U.S. GDP accounts for ________ of world output
A) 20% B) 23% C) 45% D) 50%