There are very few, if any, farms within the city limits of Chicago because
A) zoning laws have always prohibited them.
B) the land under the city of Chicago is unfertile.
C) Chicago is known for its butchers and freighters, not its farmers.
D) the land is in extremely great demand for non-agricultural purposes.
D
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Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is $1
A) not enough consumers want to buy iced tea. B) the quantity supplied is economically efficient but the quantity demanded is economically inefficient. C) economic surplus is maximized. D) the quantity supplied is less than the economically efficient quantity.
Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?
a. 2.76 million b. 31.74 million c. 34.5 million d. 42.32 million