In the economy of Grippe, 40 people have jobs, 10 people are not working but are searching for work, and 100 people don't work and don't seek work. The unemployment rate is
A) 14 percent.
B) 15 percent
C) 20 percent.
D) 25 percent.
E) none of the above.
C
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
When the amount of output is such that marginal social benefit exceeds marginal social cost, then to reach the efficient quantity
A) production should be increased. B) production should be decreased. C) production should remain constant. D) More information is needed to determine if production should be increased, decreased, or not changed.
The consumption theories proposed by Modigliani and Friedman suggest that during recessions consumers reduce
A) consumption and maintain saving. B) saving and maintain consumption. C) consumption and saving. D) consumption and investment.
If a firm is able to collect the entire producer surplus, it is said to have practiced perfect price discrimination
a. True b. False Indicate whether the statement is true or false