Suppose the working-age population of a fictional economy falls into the following categories: 30 are retired; 45 are stay-at-home parents; 120 are employed full time; 40 are employed part time; 25 are unemployed but are actively looking for
employment; 15 are unemployed and are not actively looking for employment. The official unemployment rate as calculated by the BLS would be A) 9.62%.
B) 13.51%.
C) 14.55%.
D) 20.0%.
B
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Pedro's utility of wealth is 6 units for $10,000 and 10 units for $20,000. A friend gave him a lottery ticket for his birthday. The ticket won, giving him either $10,000 with probability 0.5 or $20,000 with probability 0.5
Pedro's expected utility from the lottery ticket is A) between 6 and 8 units. B) equal to 8 units. C) between 8 and 10 units. D) equal to 10 units.
If a bank receives a $1 million discount loan from the Federal Reserve, then the bank's reserves will
A) not change. B) increase by less than $1 million. C) increase by $1 million. D) increase by more than $1 million.
In a market economy, scarcity of resources is most clearly reflected in
a. supply. b. demand. c. market prices. d. the stock of the resource.
In 2000, Italy's per-capita GDP was ________ percent ________ than the EU-27 average.
A. 18; higher B. 6; lower C. 36; lower D. 24; higher