Refer to Figure 10-9. The change in the budget constraint from BC1 to BC2 implies
A) income and the prices of DVDs and CDs have increased.
B) the price of DVDs has increased and the price of CDs has decreased.
C) the prices of DVDs and CDs have increased.
D) the price of DVDs has decreased and the price of CDs has increased.
B
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If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output increases from 5 million to 7 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
The unemployment rate is computed by ________
A) dividing labor force by the adult population B) dividing the number of unemployed by the adult population C) multiplying the employment ratio by the adult population D) dividing the labor force by the number of unemployed E) none of the above