Unemployment is a ________ concept, measuring the ________
A) stock; number of people who are not working
B) stock; number of people at a point in time who are not working but who are looking for work
C) flow; number of people who are first entering the labor force
D) flow; number of people who lost their jobs within the last week
B
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Suppose early one Friday morning the economics club buys 200 donuts at 25 cents each, and plans to sell all of them later in day on campus for 50 cents each
Only 60 donuts are sold at 50 cents, however, and by early afternoon the club is seen trying to unload the remaining donuts for 10 cents each. What is the correct price of one of donut? A) 10 cents B) 25 cents C) 50 cents D) Stated this way, the question is meaningless.
In the above figure, the deadweight loss is zero if output is
A) 0 units. B) 10 units. C) 20 units. D) 30 units.