The rate at which a consumer is willing to substitute one good for another, while still maintaining a given level of satisfaction, is called the
A. budget constraint.
B. average rate of substitution.
C. marginal rate of substitution.
D. market rate of substitution.
Answer: C
Economics
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France is considering implementing policies that will reduce the duration of job search. A possible option is for France to
A) reduce unemployment benefits. B) help negotiate higher union benefits for employed workers. C) increase the minimum wage. D) require all residents between the ages of 19 and 26 to obtain a part-time or full-time job. E) Both answers A and B are correct.
Economics
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
Economics