Suppose you are graphing the quantity of bagels on the vertical axis and the quantity of coffee on the horizontal axis. A household's real income in terms of bagels is the
A) relative price of coffee.
B) relative price of bagels.
C) point at which the budget line intersects the x-axis.
D) point at which the budget line intersects the y-axis.
D
Economics
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Suppose the Utopian economy has the following characteristics: 100,000 people in the noninstitutional population; 80,000 people employed; 20,000 people not in the labor force. How many people are in the economy's labor force?
A) 0 B) 20,000 C) 60,000 D) 80,000 E) 100,000
Economics
Suppose an economy experiences an increase in inflation. Explain the possible macroeconomic benefits of this increase in inflation
What will be an ideal response?
Economics