Scarcity:
a. exists because resources are unlimited while human wants are limited.
b. means we are unable to have as much as we would like to have.
c. will likely be eliminated as technology continues to expand.
d. is not an issue addressed in economics.
b
Economics
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If the population of the United States is 260 million, the labor force is 130 million, and 120 million workers are employed, the rate of unemployment is
A. 7.7% B. 8.3% C. 3.85% D. 53.9%
Economics
Which of the following is considered a macroeconomic topic?
A. iTunes raises the price of all its music. B. iTunes raises the price of its pop artists’ music only. C. Jay-Z decides to sell his Brooklyn Nets minority ownership. D. The labor force participation rate in the US fell by 1 percent in 2010
Economics