The labor-force participation rate of a country is 20%. The number of employed and unemployed people are 50 million and 20 million, respectively. The adult population of the country is _____
a. 70 million
b. 120 million
c. 450 million
d. 350 million
d
You might also like to view...
All of the following entry methods provide firms with familiarity with a foreign market, expect which one?
A) partnership B) merger C) independent entry D) joint venture
Each of the following is a basic economic role of the government except
A. tax collection. B. spending money. C. regulation of the economy. D. owning most of the means of production.
The players in a two-person game are choosing between Strategy X and Strategy Y. If the second player chooses Strategy X, the first player's best outcome is also to select X. If the second player chooses Strategy Y, the first player's best outcome is to select X. For the first player, Strategy X is called a
a. dominant strategy b. collusive strategy c. tit-for-tat strategy d. repeated-trial strategy e. tacit strategy
Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
At this monopolist's profit-maximizing level of output, deadweight loss equals ________.
A. $2,000 B. $1,000 C. $6,000 D. $4,000