Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy?
A. 30 million
B. 282 million
C. 188 million
D. 300 million
Answer: B
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Define the utility possibilities frontier. Explain what it means when society is inside the utility possibilities frontier. Explain what it means when society is on the utility possibilities frontier
Explain what determines the point that society arrives at on the utility possibilities frontier.
According to evidence provided by the U.S. government, the median black
a. man earns more than the median black woman. b. woman earns less than the median white woman c. man earns less than the median white man. d. All of the above are correct.
If the reserve ratio is 8 percent, then a decrease in reserves of $6,000 can cause the money supply to fall by as much as
a. $48,000. b. $75,000. c. $55,200. d. $10,800.
An increase in aggregate supply causes:
a. real domestic output to decrease and the price level to rise b. Both real domestic output and the price level to decrease c. Real domestic output to increase and the price level to become smaller d. Both real domestic output and the price level to become greater