The Local Electronics Retailer Has Recently Conducted a Study on Purchasers

question 16

Multiple Choice

The local electronics retailer has recently conducted a study on purchasers of large screen televisions.The study recorded the type of television and the credit account balance of the customer at the time of purchase.The following results were obtained: What percentage of the customers with the highest credit balances purchased an LCD television?

• A)36.30%
• B)5.90%
• C)19.60%
• D)56.30%
• E)16.20%

Recognize the relationship between comparative advantage and trade outcomes.

Identify the conditions under which trade can increase or decrease consumer and producer surplus.

Understand the role and impact of international trade organizations and agreements.

Evaluate the potential gains from free versus restricted trade.

---

Definitions:

Unemployment Rate

The unemployment rate is the percentage of the labor force that is jobless and actively looking for employment, serving as a key indicator of labor market health.

Labor Force

The total number of people available for work, including both the employed and those seeking employment but currently unemployed.

Employed Adults

Individuals above a specified age who are currently working in paid employment.

Employed Count

The total number of individuals in an economy who are currently employed or working.