Over the past two decades, the saving rate in China has been approximately ________%

Much of the writings of Adam Smith are in close agreement with

A) the necessity of trade restrictions. B) the first fundamental theorem of welfare economics. C) the second theorem of welfare economics. D) both B and C above.

Which of the following statements is incorrect?

a. The unemployment rate overstates the labor market's true level of economic hardship because many families have more than one income earner. b. It is mathematically and economically impossible for the unemployment rate and employment rate to rise at the same time. c. By reporting that they are "actively seeking work" when they are not, individuals cause the unemployment rate to rise above the true level of hardship. d. Because part-time workers are counted as fully employed the unemployment rate understates the true level of economic hardship.