The process of seasonal adjustment is important because
A. economic variables rarely change from season to season.
B. economic variables predictably change from season to season, so to understand the economic importance of month-to- month changes, you need to account for it.
C. economic variables are politically determined.
D. economic variables may predictably change from season to season, but those changes are not significant.
Answer: B
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The figure above shows the market for transportation services, which produces an external cost due to the air pollution that is created
If the market for transportation services is competitive and unregulated, the equilibrium quantity is ________ and the equilibrium price is ________. A) 120; $14 B) 120; $8 C) 80; $12 D) 80; $6
Suppose that in some state the civilian, non-institutionalized adult population is 4 million, the labor force participation rate is 75%, and 250,000 people are unemployed. What is the unemployment rate (to the nearest tenth)?
A) 6.3% B) 7.7% C) 8.3% D) 9.1%