Refer to the scenario above. What will be the difference in the GDP per capita of both countries at the beginning of year 2012?
A) $30.39 B) $99.84 C) $8.99 D) $339.69
B
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Which of the following unemployment rates can be negative?
A) the official unemployment rate reported by the Bureau of Labor Statistics B) the natural unemployment rate C) the cyclical unemployment rate D) the seasonal unemployment rate
Refer to Table 2-18. What is Mickey's opportunity cost of making an umbrella?
A) 1/5 of a hat B) 5 hats C) 10 hats D) 50 hats
If demand is perfectly elastic
A) then a 1% increase in price leads to a fall in quantity of greater than 1%. B) then a 1% increase in price leads to a fall in quantity of less than 1%. C) then a 1% increase in price causes quantity demanded to fall to zero. D) then a 1% increase in price has no effect on quantity demanded.
The profit-maximizing price and quantity of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) A and B. B) A and C. C) A and F. D) C and F.