The supply of seats for an economics class at 10 a.m. is the same as the supply of seats for the same class at noon. Every student who wants to attend this class at noon can, but not every student who wants to attend the 10 a.m. class can. Tuition does not vary by time. It follows that the demand for the 10 a.m. class is __________ the demand for the noon class

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals: a. 8 percent

b. 20 percent. c. 25 percent. d. 32 percent.

Measured as a share of the economy, total government expenditures:

A. have been between 10 and 15 percent of the U.S. economy since 1930. B. have been between 20 and 25 percent of the U.S. economy since 1930. C. rose from less than 10 percent in 1929 to about 35 percent currently. D. declined from more than 50 percent in 1929 to approximately 25 percent currently.