-The Table Above Shows Data Reported by the Office for National

question 81

Multiple Choice

-The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000.In September 2000,the labor force participation rate is

• A)59.7 percent.
• B)63.1 percent.
• C)34.8 percent.
• D)40.3 percent.
• E)58.3 percent.

Identify the role and calculation of quota rent in quota-imposed markets.

Explain the effects of quotas on market inefficiencies and missed opportunities for consumers and producers.

Recognize different forms of quantity controls and their purposes in various markets.

Understand the concept of demand price and supply price in the context of quota limits.