The overuse of a common resource relative to its economically efficient use is called

Suppose the typical household holds $1,000 when the interest rate is 5 percent. When the interest rate rises to 6 percent, the typical household would most likely hold

A) more money because the opportunity cost of holding money is higher. B) less money because the opportunity cost of holding money is lower. C) less money because the opportunity cost of holding money is higher. D) more money because the opportunity cost of holding money is lower.

Mike has been unemployed for over a year. He hasn't looked for a job in the last three months, but he's just started looking for work again. Because Mike started looking for a new job

A) the unemployment rate decreased. B) the working-age population increased. C) the unemployment rate increased. D) the labor force participation rate decreased.