If there are 10 job losers, 12 job leavers, 13 reentrants, and 12 new entrants, then there are __________ unemployed persons
A) 35
B) 47
C) 25
D) 37
E) There is not enough information to answer the question.
B
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According to the expenditures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investment
a. True b. False Indicate whether the statement is true or false
For the average living standard of a nation to rise, the only thing that needs to happen is for nominal GDP to increase faster than the price level
a. True b. False
Suppose that Cambodia becomes the next popular tourist destination. You notice that hotels, restaurants, and other services cost much less there than in the United States. From the perspective of the U.S. dollar, what would be the real exchange rate of the Cambodian riel?
a) The real exchange rate would be 0. b) The real exchange rate would be 1. c) The real exchange rate would be greater than 1. d) The real exchange rate would be less than 1.
The marginal cost of a unit of labor in a perfectly competitive labor market is
A. equal to product price. B. its average MRP. C. equal to MRP. D. the market wage rate.