Refer to Labor Force Statistics by Age. In the proper order, which age group has the highest unemployment rate and which has the highest participation rate?
Labor Force Statistics by Age.
Suppose people in the adult population in a small country are classified based on their age.
Labor Force Status
less then 55
55 and older
Number employed
400,000
100,000
Number unemployed
25,000
7,000
Number in Population
600,000
200,000
A) under 55, under 55
B) under 55, 55 and older
C) 55 and older, under 55
D) 55 and older, 55 and older
Answer: C) 55 and older, under 55
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A) rise in the near-term and fall later on. B) fall moderately in the near-term and rise later on. C) fall sharply in the near-term and rise later on. D) remain unchanged in the near-term and fall later on.
The slope of a line is calculated as the ratio of the "rise" over the "run"
a. True b. False Indicate whether the statement is true or false
If the average propensity to consume is initially 0.85, the marginal propensity to consume is 0.75, and real disposable income increases by $1000, the value of saving
A. increases by $250. B. decreases by $250. C. increases by $150. D. decreases by $150.
A monopolist's marginal revenue curve:
A) is perfectly inelastic. B) is perfectly elastic. C) lies below the demand curve. D) lies above the demand curve.