In a small country, the adult population is 10,000. In that country, 7,000 people are in the labor force and 6,300 people are employed. The unemployment rate equals
A. 0.63 percent.
B. 7 percent.
C. 10 percent.
D. an undetermined amount given the lack of information.
Answer: C
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A common source of diseconomies of scale is the
A) diminishing marginal returns to capital. B) diminishing marginal returns to labor. C) diminishing marginal returns to land. D) growing complexity of management and organizational structure.
From a point within the utilities possibilities frontier,
A) movement to another point within the frontier can only increase one person's utility, but not both people's utility. B) it is possible to find another point within the frontier that generates higher utility for both people. C) it is possible to find another point within the frontier that involves higher output of both goods. D) any move to another point within the frontier will necessarily decrease someone's utility.
American productivity growth was highest in the decade of the
A. 1960's. B. 1970's. C. 1980's. D. 1990's.
The practice of making choices using generalizations based on observable characteristics like race, gender, or age is called:
A. discrimination. B. conditional cash transfers. C. means-testing. D. None of these is true.