Author Question: Households receive a total income of 5 million. Of this, 3.5 million are wages received for labor ... (Read 532 times)

Tazate · **on:** Jun 30, 2018

Households receive a total income of 5 million. Of this, 3.5 million are wages received for labor services, 1 million are rental payments, and 250,000 are interest payments received.

What are the costs of production and profits equal to respectively?
A) 4.75 million; 0 B) 5 million; 250,000
C) 4.75 million; 250,000 D) 5 million; 500,000

Question 2

In a small country, the adult population is 10,000. In that country, 7,000 people are in the labor force and 6,300 people are employed. The unemployment rate equals

A) 0.63 percent.
B) 7 percent.
C) 10 percent.
D) an undetermined amount given the lack of information.