Assume the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the labor force participation rate?
What will be an ideal response?
67 percent
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When the government increases spending (holding taxes constant), the budget balance _____. This causes the interest rate in the market for loanable funds to _____ and investment to _____
Fill in the blank(s) with correct word
The federal income tax began in the United States with the
A. Morrill Act of 1862. B. addition of the Bill of Rights to the Constitution in 1791. C. passage of the 16th Amendment to the Constitution in 1913. D. New Deal legislation of the 1930s.
Explain why greater equality is inevitably gained at the expense of efficiency.
What will be an ideal response?
?The graph shows the market for wheat in an economy. The equilibrium price and quantity of wheat bought and sold in the domestic market in the absence of international trade are P2 and Q2, respectively. If the world price of wheat is P3, the net domestic gain from trade is shown by area _____ in the graph.
a. ?C b. ?E c. ?B d. ?A e. ?D