The labor force of a country was 50 million last year. The labor-force participation rate was 4% last year, but it increased to 6% in the current year. This implies the labor force in the current year is _____
a. 70 million
b. 75 million
c. 100 million
d. 35 million
b
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Explanations for the low U.S. saving rate include all of the following EXCEPT:
A. large capital gains in the stock market. B. low real interest rates relative to the rest of the world. C. government programs that provide income for the elderly. D. low down payments required to purchase homes.
A monopolistically competitive firm is producing at a short-run output level where average total cost is $10.00, marginal cost is $5.00, marginal revenue is $6.00, and price is $12.00. In the short run, the firm should
A. increase product price. B. make no change in the level of output. C. increase the level of output. D. decrease the level of output.
To ensure interest rate parity, a decrease in the interest rate on Euroyen relative to Eurodollar deposits will require a greater expected appreciation of the Japanese yen against the U.S. dollar
a. True b. False Indicate whether the statement is true or false
The price elasticity of demand is a measure of
A) the responsiveness of the quantity demanded of a good to a changes in the price of the good. B) the quantity demanded of a good at a given price. C) the demand for a product holding prices constant. D) the horizontal shift in the demand curve when the price of a good changes.