Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the surplus received by consumers and producers.

Select the letter of the diagram in Figure 28.1 that best represents the effect of each event on the United States wheat market, ceteris paribus: The federal government decides to no longer purchase wheat from farmers. (See Figure 29.4.)

A. a. B. b. C. c. D. d.

The employment-to-population ratio is

A) the percentage of the working-age population who are employed. B) the percentage of the labour force who are unemployed or employed. C) the percentage of the labour force who are employed. D) the percentage of the working-age population who are unemployed or employed. E) none of the above.