If the number of employed workers in an economy is 8 million, the number of potential workers in the economy is 12 million, and the number of adults not in the labor force is 1 million, the number of unemployed people in the economy will equal:
A) 3 million. B) 5 million. C) 1 million. D) 7 million.
A
You might also like to view...
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
The prisoner's dilemma game can involve:
A. only two players. B. more than two players. C. multiple organizations. D. All of these statements are true.
A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has a sunk fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit-maximizing output if the price is P = $192?
A. 0 B. 6 C. 8 D. 10
The Lucas supply function, in combination with the assumption that expectations are rational, implies that an announced monetary policy change will lead to
A. a negative price surprise. B. a positive price surprise. C. a positive price surprise for expansionary monetary policy and a negative price surprise for contractionary monetary policy. D. no price surprise.