People who report being not in the labor force but who, in fact, want to work but have given up trying to find a job after an unsuccessful search cause the reported unemployment rate to be lower than it would otherwise be
a. True
b. False
Indicate whether the statement is true or false
True
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The price elasticity of demand equals magnitude of the
A) change in the price divided by the change in quantity demanded. B) change in the quantity demanded divided by the change in price. C) percentage change in the price divided by the percentage change in the quantity demanded. D) percentage change in the quantity demanded divided by the percentage change in the price.
Elasticity of demand equals the ratio of the percentage change in the quantity demanded to the percentage change in the price of the good.
Answer the following statement true (T) or false (F)
The stock of labor talents and skills is known as
a. a public good. b. the functional distribution. c. human capital. d. enterprise.
Which of the following statements best describes the comparative advantage of the corresponding country regarding the iPhone?
a. The United States has a comparative advantage in designing and marketing products. b. China has a comparative advantage in designing and marketing products. c. Korea has a comparative advantage in producing components. d. China has a comparative advantage in producing components.