The unemployment rate is calculated as:
a. the number of officially unemployed persons divided by the number of officially employed persons
b. the number of officially employed persons divided by the number of officially unemployed persons.
c. the number of officially unemployed persons divided by the number of officially employed plus unemployed persons.
d. the number of officially unemployed persons divided by the population.
c
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The figure above shows an education market in which the government is providing households with vouchers. Excluding the voucher, what do the students pay the schools?
A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) $0
In the long run, a monopolistically competitive firm will set price:
A. at the intersection of the marginal cost and demand curves. B. at the intersection of the average total cost and demand curves. C. higher than the competitive level, but lower than the monopoly price. D. higher than the marginal cost, but lower than average total cost.