The unemployment rate is usually ________ during a depression
A) below 3% B) above 20%
C) between 3% to 5% D) between 5% to 10%
B
Economics
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Suppose the market for guitars "clears" at a price of $500 per guitar. What does the above statement mean?
A) Nothing, if an economist made the statement. B) Guitars are no longer a scarce good. C) The plans of guitar buyers and sellers are coordinated. D) There is no longer a demand for guitars.
Economics
Suppose the inverse supply curve in a market is Q = 6p2. What is the producer surplus when price is equal to 4?
A) 96 B) 128 C) 28 D) 48
Economics