The contract curve in an Edgeworth Box diagram illustrates
A) the only efficient allocation of goods among individuals.
B) all possible efficient allocations of goods among individuals.
C) all equitable distributions of goods among individuals.
D) the only equitable distribution of goods among individuals.
B
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Which of the following correctly describes the calculation of the unemployment rate?
A. Unemployment rate = employed ÷ unemployed × 100 B. Unemployment rate = unemployed ÷ civilian labor force × 100 C. Unemployment rate = unemployed ÷ employed × 100 D. Unemployment rate = unemployed ÷ adult population × 100
Differing productivities, differences in working conditions, and localized employer market power are some of the reasons which explain differences in individual wages
Indicate whether the statement is true or false