The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find.
B) it is more likely that an incumbent president will be re-elected.
C) that investors will be more optimistic about the economy.
D) that stock prices are more likely to fall.
Question 2
To maximize profit a monopolist will produce where
A) marginal revenue is equal to marginal cost. B) average total cost is equal to average revenue.
C) demand for its product is unit elastic. D) revenue per unit is maximized.
Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s
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economic question