The observation that people tend to value something more highly when they own it than when they don't is called the

Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?

A) a surplus of 2000 garbanzo beans B) a shortage of 2000 garbanzo beans C) No change, equilibrium would prevail. D) The quantity demanded of garbanzo beans would fall to zero.

Exhibit 16-2 Unemployment categories Category# ofIndividuals Frictional unemployment  20 Structural unemployment  35 Cyclical unemployment  60 Discouraged workers    5 Underemployed workers  10 Fully employed workers410 Population900 The unemployment rate for the economy in Exhibit 6-2 is:

A. 12.8 percent. B. 21.5 percent. C. 22.2 percent. D. 30.5 percent.