If price falls from $100 to $99 and quantity demanded rises from 2 to 3, the price elasticity of demand is
A. 0.03.
B. 1.75.
C. 25.7.
D. 39.8.
D. 39.8.
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Which of the following happens during a recession?
A) Labor demand increases. B) The equilibrium wage rate rises. C) Labor supply falls. D) The equilibrium wage rate falls.
Refer to Table 4-8. Suppose that the quantity of labor demanded decreases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $10.00; Q = 390,000 B) W = $8.50; Q = 340,000 C) W = $9.50; Q = 380,000 D) W = $8.00; Q = 350,000
The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market
a. True b. False Indicate whether the statement is true or false
Chronic nursing home care is covered by
A. Medicare, Part B. B. the two parts split the cost. C. Medicare, Part A. D. no form of Medicare.