In a one-period economy, all of the following are equivalent expressions of the budget constraint except
A) C = w(NS + l) + ? - T.
B) C = wNS + ? - T.
C) C = w(h - l) + ? - T.
D) C = wl = wh + ? - T.
A
Economics
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In Lutheria, there are 10,000 people in the age group of 0-14, 30,000 people are employed, and 2,000 people are unemployed. Lutheria's GDP, measured in luthers, is 1 billion. Income per worker in Lutheria is:
A) 33,333 luthers. B) 23,667 luthers. C) 28,999 luthers. D) 10,000 luthers.
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Which of the following is the best example of a perfectly competitive industry?
A) steel production B) airplane production C) wheat production D) electricity production
Economics