In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted them. What is the participation rate in this town?
A. 87.5%
B. 72.0%
C. 81.1%
D. 63.0%
Answer: C
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Balance of payments accounts include
A) the net interest income account. B) the current account. C) Both answers A and B are correct. D) Neither answer A nor B is correct.
Refer to Figure 7-3. Without the quota, the domestic price of peanuts equals the world price which is $2.00 per pound. What is the quantity of peanuts demanded by domestic consumers in the absence of a quota?
A) 10 million pounds B) 28 million pounds C) 30 million pounds D) 40 million pounds
Assume that Dusty has $30 in income, the price of a loaf of bread is $1.50, and the price of a jar of peanut butter is $3. Suppose that at the original income of $30, the price of a loaf of bread increased to $3 and the price of a jar of peanut butter decreased to $2. Dusty can buy a maximum of ________ loaves of bread or a maximum of ________ jars of peanut butter.
A. 20; 15 B. 15; 20 C. 15; 10 D. 10; 15
Which of the following would be considered an economic function of government?
A) providing a legal system B) promoting competition C) providing public goods D) All of the above are correct.