If income rises by 10 percent and the quantity sold of a particular vehicle falls by 7 percent, then this particular type of vehicle is

Some take issue with the human capital argument that employers pay more for college graduates because firms recognize the value of human capital. What are two alternative explanations for why college grads receive higher pay?

Which one of the following statements is TRUE?

A. The sum of wages lost by all unemployed workers gives an accurate, comprehensive estimate of the total cost of unemployment. B. The existence of unemployment places the economy at a point inside its production possibilities curve. C. The unemployment rate is the percentage of the population not working. D. To be counted as part of the labor force, an individual must be working more than 40 hours a week.