In a country with a working-age population of 300 million, 230 million workers are employed and 40 million workers are unemployed. What is the labor force participation rate?

In Figure 15-2 above, the difference between consumption levels at point A and point B is equal to

A) the long run MPC times the change in disposable income. B) the short run MPC times the change in disposable income. C) (Y0 - Y2 ) times the short run change in income. D) the long run change in income times (Y0 - YP).

When a firm produces 1000 widgets with total cost of $2000 and fixed cost of $1000, what is the average variable cost?

A) $2 B) $1 C) $0.50 D) $0.20