The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park. An efficient allocation of resources occurs at

If N is the working-age population, Q is the labor force, and U is the number of unemployed, then the employment/population ratio is measured as

A) N/Q B) U/Q C) (Q-U)/N D) Q/N

Which of the following statements is FALSE?

A) The federal budget deficit in 2004 was about 4 percent of the GDP.
B) During the past five years, the U.S. public debt has been increasing.
C) The public debt of $25 billion is the accumulated debt of all U.S. individuals, firms, and institutions.
D) A budget deficit of $25 billion in a given year increases the public debt by $25 billion.