In a country with a working-age population of 130 million, 90 million workers are employed and 10 million workers are unemployed. What is the unemployment rate?
A) 5.0 percent
B) 7.1 percent
C) 7.7 percent
D) 10.0 percent
D
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The current account is the sum of ________
A) net exports, net factor income from abroad and net transfers from abroad. B) consumption, investment, and government expenditure C) net exports and net investment from abroad D) net exports and net transfers from abroad
The price elasticity of demand for cigarettes is 0.4. If government wants to reduce smoking by 10 percent, by how much should it raise the price of cigarettes by imposing a tax?
A) by 10 percent B) by 20 percent C) by 25 percent D) by 50 percent
If two goods are complements, then their
A) indifference curves are positively sloped straight lines. B) indifference curves are negatively sloped straight lines. C) indifference curves are L-shaped. D) marginal rate of substitution is infinity.
If people suddenly anticipate that inflation will rise during the next year, which of the following is most likely?
a. Nominal interest rates will rise. b. Nominal interest rates will decline. c. The demand for goods and services will decline. d. Both the real and nominal interest rates will decline.