If supply is perfectly inelastic and demand increases,
a. price falls and output rises.
b. price rises and output falls.
c. price rises and output remains unchanged.
d. price rises and output rises.
c. price rises and output remains unchanged.
Economics
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If the number of employed workers in a country is 6 million, and the size of the labor force in the economy is 8 million, the unemployment rate in the country is:
A) 25 percent. B) 24 percent. C) 8 percent. D) 30 percent.
Economics
Which basic approach to environment policy may be the only workable solution in brief but serious emergencies that do not allow for time to plan and enact a systematic program?
a. Taxes on pollution b. Voluntary compliance c. Tradable emissions permits d. Direct controls like legal ceilings
Economics