Refer to Table 9-1. The unemployment rate for this simple economy equals
A) (100/1,100 ) 100. B) (100/20,000 ) 100. C) (100/15,000 ) 100. D) (100/1,000 ) 100.
Question 2
The income effect of a price change refers to the change in the quantity demanded of a good that results from a change in the price of a substitute product.
Indicate whether the statement is true or false