In the mid-1980s the natural rate of unemployment in the U.S. was about __________ while at present it is about __________
a. 10%; 2.5%
b. 6.5%; 4.5%
c. 4.5%; 6.5%
d. 6.5%; 6.2%
e. 6.5%; 10.0%
B
Economics
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If it costs you $60 to produce 3 widgets and $64 to produce 4 widgets, the marginal cost to you of producing a 4th widget is
A) $62. B) $20. C) $18. D) $6. E) $4.
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The "law of demand" states that, other things remaining the same, the quantity demanded of any good is
A) inversely related to its price. B) directly related to its price. C) positively related to its price. D) directly related to the supply of the good.
Economics