Because MP3 players cost less to make, if demand does not change, there will be more profit. This is because there would be the same amount demand and less money being made into making the product, meaning less expense, which means a bigger profit.
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of... rational decision making. You just studied 8 terms!
I would say that all four answers are correct. Trade and commerce between civilizations really did help to exchange new ideas, spread languages, share new inventions, and make some people rich.
Answer:
B. is equal to the total of frictional and structural unemployment.
Explanation:
The natural rate of unemployment is the sum of frictional and structural unemployment at any given time. Economists estimate that for the United States this rate is around 3.5%.
Unemployment has a natural rate because no matter how good the economy is doing, some people either do not want to work, are in between jobs (frictional unemployemt), or lack the skills necessary to get employed and need to undergo training (structural unemployment).