Based on the information in the table, what is the unemployment rate? Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 7.2 percent
B. 28.0 percent
C. 8.0 percent
D. 10.0 percent
Answer: D
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Refer to the scenario above. Which of the following shifts will increase the total cost?
A) Shift from apartment Close to Far B) Shift from apartment Far to Very Far C) Shift from apartment Very Close to Close D) Shift from apartment Very Far to Extremely Far
Suppose Lauren, Leslie and Lydia all purchase bulletin boards for their rooms for $15 each. Lauren's willingness to pay was $35, Leslie's willingness to pay was $25, and Lydia's willingness to pay was $30 . Total consumer surplus for these three would be
a. $15. b. $30. c. $45. d. $90.
Inflation reduces economic efficiency because it does each of the following except:
A. distort incentives through interaction with the tax laws. B. change relative prices. C. obscure information transmitted by prices. D. induce people to minimize cash holdings.
The ________ that a firm takes in when it increases output by one additional unit is marginal revenue.
A. total revenue B. extra resources C. additional labor D. added revenue