The market demand curve for a private good is the horizontal sum of individual consumer demand curves. In contrast, once a public good is produced, it is available to all consumers in an identical amount. Thus the market demand curve for a public good is the vertical sum of individual consumer demand curves

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%.

What is being depicted in this graph showing the union sector?

a. By restricting membership, a union can limit supply and raise wages.
b. When a union lowers quantity from Q 1 to Q 2 , wages also move lower.
c. By keeping salaries below S 1 , the union restricts the number of workers.
d. Collective bargaining improves union wages, quality, and salaries.