The table above gives the number of people employed and the number of people unemployed in Canada, Japan, and the United States on the average during 1999
In 1999, the unemployment rate in ________ was the highest and the unemployment rate in ________ was the lowest. A) the United States; Japan
B) Canada; the United States
C) Japan; Canada
D) Canada; Japan
E) Japan; the United States
B
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The long-run effect of an increase in the growth rate of the quantity of money is a
A) higher nominal interest rate. B) lower nominal interest rate. C) lower real interest rate. D) lower inflation rate. E) higher real interest rate.
In the figure above, when the price falls from $5 to $4, the price elasticity of demand is
A) 2. B) 3. C) 0.75. D) 1.5. E) 0.33.
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell a MP3 player is $10. If he signed a fixed-fee rental contract with the store owner and pays $400 as the rent,
A) Nick will sell 20 MP3 players. B) Nick will sell 30 MP3 players. C) Nick will sell 40 MP3 players. D) Nick will sell 50 MP3 players.
Safe Bank has an outside display which has the time and temperature that is always correct. This is an example of
A) an interference in the workings of the price system. B) a breakdown in communication between the bank and its customers. C) a negative externality. D) a positive externality.