The towns of Jekyll and Hyde each have a labor force of 2,000 people. In Jekyll, 500 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Hyde, every member of the labor force was unemployed for three months and was employed for nine months. The average duration of unemployment spells over the year was ________ months in Jekyll and ________ months in Hyde.
A. 12; 3
B. 3; 9
C. 12; 9
D. 3; 3
Answer: A
You might also like to view...
An increase in aggregate demand is shown by
A) a movement up along the aggregate demand curve. B) a leftward shift in the aggregate demand curve. C) the movement down along the aggregate demand curve. D) a rightward shift in the aggregate demand curve.
Is it possible to proactively prevent armed conflict in developing countries?
What will be an ideal response?
The most significant kind of federal subsidy to railroads was
a. loans from the U.S. government. b. reduced corporate income taxes. c. land grants. d. direct payments based on the number of miles of tracks laid.
People differ on the method by which stock should be valued. Some people are chartists, others behavioralists. The basic difference between these groups is:
A. chartists study charts of stock prices; behavioralists focus on investor psychology and behavior. B. chartists rely on astrological charts to predict stock values, behavioralists rely on psychology. C. behavioralists are finance based, chartists study charts of investor psychology. D. chartists and behavioralists are the same in their approach; essentially there aren't any differences.