The unemployment rate is
What will be an ideal response?
(number of people unemployed ( labor force) ( 100)
You might also like to view...
A student noted that the football team won by a larger margin when the third-string played more minutes. Therefore, he recommended that the third-stringers become the first team. His conclusion was probably erroneous because he
a. confused positive and normative analysis. b. committed the fallacy of composition. c. failed to recognize that association is not causation. d. confused macroeconomics with microeconomics.
Refer to the accompanying figure. The opportunity cost of making an additional salad:
A. decreases as the number of salads increases. B. increases as the number of salads increases. C. decreases as the number of pizzas decreases. D. remains constant regardless of how many salads are made.
Firms in an oligopoly market can potentially earn economic profits: a)in the short run, but not the long run
a. In the short run, but not the long run. ?b. In the long run, but not the short run. ?c. In both the short run and long run ?d. In neither the short run nor the long run
The decision rule for constrained optimization is to select the level for each activity at which
A. total benefit per dollar of total cost is equal across all activities. B. marginal benefit equals marginal cost for each activity. C. total benefit equals total cost for each activity. D. marginal benefit per dollar of marginal cost is equal across all activities.