The unemployment rate is the
A. number of unemployed divided by the number of employed.
B. labor force divided by the number of unemployed.
C. number of unemployed divided by the labor force.
D. number of employed divided by the number of unemployed.
Answer: C
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An insurance company holding a single-home mortgage should be most concerned about the mortgage's __________ risk
A) default B) prepayment C) price fluctuation D) collateral
Suppose a plaintiff hires a lawyer to represent her in a court case. Under which of the following contracts is production efficiency assured?
A) The lawyer is paid by the hour. B) The lawyer receives a share of the settlement. C) The lawyer receives a fixed fee. D) The lawyer pays the client a fee for the right to the entire settlement.
James took out a fixed-interest-rate loan when the CPI was 200 . He expected the CPI to increase to 206 but it actually increased to 204 . The real interest rate he paid is
a. higher than he had expected, and the real value of the loan is higher than he had expected. b. higher than he had expected, and the real value of the loan is lower than he had expected. c. lower than he had expected, and the real value of the loan is higher than he had expected. d. lower then he had expected, and the real value of the loan is lower than he had expected.
Refer to the below table. The marginal product of the third unit of the resource is:
A. 3
B. 4
C. 5
D. 6