The unemployment rate is supposed to measure ________. It is an imperfect measure because ________.
A) the percentage of the working-age population who are unemployed; it is impossible to count everyone in
the working-age population
B) the underutilization of labour resources; it excludes some underutilized labour and some unemployment
is unavoidable
C) the percentage of the labour force who are unemployed; it is impossible to count everyone in the labour
force
D) the number of unemployed plus the number of marginally attached workers expressed as a percentage of
the labour force; it excludes the marginally attached workers because Statistics Canada considers them as
employed
E) the underutilization of labour resources; it includes part-time workers and excludes discouraged workers
B) the underutilization of labour resources; it excludes some underutilized labour and some unemployment
is unavoidable
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According to the above figure, at an income level of Y1,
A) the economy saves an amount equal to BD. B) the economy dissaves an amount equal to BD. C) the average propensity to save is greater than one. D) the marginal propensity to save is falling.
The official settlements account records the change in ________
A) international trade B) U.S. official reserves C) foreign investment and domestic investment D) the reserves held by banks and the Fed
The Employment Act of 1946 codified the federal government's commitment to
A) promote high employment consistent with price stability. B) promote high employment irrespective of the effects on price stability. C) guarantee a job to every unemployed person. D) fine companies that engage in excessive layoffs during recessions.
The largest institutional participants in capital markets are
A) pension funds. B) insurance companies. C) consumer finance companies. D) business finance companies.