If the number employed is 190 million, the working-age population is 230 million, and the number unemployed is 10 million, then the unemployment rate is
A) 5%. B) 5.2%. C) 8%. D) 10%. E) 50%.
A
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The indifference curves in the figure above (I1, I2, and I3 ) reflect Peter's consumption preferences. Peter prefers consuming ________ to consuming ________
A) 48 slices of pizza and 12 chocolate bars; 24 slices of pizza and 24 chocolate bars B) 40 slices of pizza and 20 chocolate bars; 48 slices of pizza and 12 chocolate bars C) 24 slices of pizza and 24 chocolate bars; 40 slices of pizza and 20 chocolate bars D) 32 slices of pizza and 8 chocolate bars; 16 slices of pizza and 16 chocolate bars
Imagine you are a buyer in a double oral auction with a reservation value of $10 and there is a seller asking $8
a. How much will you gain from accepting this offer? b. If you are the only buyer, and you know that the lowest ask price is $2, should you accept this offer?