Examlex
Unemployment rate is:
Potentially Efficient
A condition indicating that a system or process could achieve maximum productivity with minimum waste or expense, but hasn't yet done so.
Consumer Surplus
The gap between the amount customers are prepared to spend on a product or service and the amount they end up paying.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service versus what they actually receive.
P = MC
An economic principle stating that the optimal level of output occurs when the price (P) equals marginal cost (MC), guiding firms in perfect competition on production decisions.
Q3: In the long run, it is the
Q9: The combination of rising unemployment and rising
Q18: Consider a country with a consumption of
Q19: Most studies indicate that the CPI overstates
Q22: Consider the following graphs depicting budget constraints,
Q26: The theory of Ricardian equivalence suggests that
Q42: If large numbers of people purchase flood
Q49: In the employment relationship, the employer:<br>A)and worker
Q58: In the macroeconomic model of the open
Q112: If signalling is applied to advertising:<br>A)a firm