Joanne rents out her apartment in Seattle to Alice as she is moving to Dallas for the next three years. Which of the following statements must be true?
a. Alice's valuation of the apartment is higher than Joanne's opportunity cost of renting it.
b. Joanne's valuation of the apartment is higher than Alice's.
c. This transaction creates no economic value for Alice.
d. Alice's valuation of the apartment is lower than Joanne's opportunity cost of renting it.
A
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The unemployment rate will decrease whenever there is
a. an increase in the number of persons classified as unemployed. b. a decrease in the number of unemployed relative to the size of the labor force. c. a decrease in the size of the population and there is no change in the number of persons classified as employed. d. a reduction in the size of the labor force. e. a decrease in the number of unemployed and the population does not change.
Fred operates his own business, Fred would be counted as employed
a. in both the household and estblishment surveys b. in the household but not the establishment survey. c. in the establishment but not the household survey. d. in neither the household nor the establishment survey.