If you hear that unemployment decreased by 2 percentage points to 6 %in the past year, while the labor force participation rate remained constant, it means:
A. on a net basis, 2 out of every 10 people lost their job in the last year.
B. on a net basis, 2 out of every 100 people lost their job in the past year.
C. on a net basis, 4 out of every 100 unemployed persons found a job in the last year.
D. on a net basis, 20 out of every 1,000 unemployed persons found a job in the last year.
Answer: D
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Some parents struggling with back-to-school buys. "A couple of years ago, I was able to buy everything practically new," said Charles Lane-Bey, a U.S. Postal Service worker who's struggling to make ends meet
Suppose Charles has $10 to spend on back-to-school clothing for his son, and pants cost 50 cents and shirts cost $1. Which of the following combinations of pants and shirts is affordable? A) 10 pants and 6 shirts B) 7 pants and 7 shirts C) 3 pants and 8 shirts D) 6 pants and 2 shirts
Regulation might NOT increase total surplus because
A) the costs of the regulation might outweigh the benefits. B) it may not be possible to gather the information necessary to set prices correctly. C) regulators might get captured by the industry. D) All of the above.