A A country has 50 million people, 30 million of whom are adults. Of the adults, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. What is this country's labor force participation rate?country has 50 million people, 30 million of whom are adults. Of the adults, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10
million are working full time. What is this country's unemployment rate?
What will be an ideal response?
25%
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A man who thinks he would save money by driving to work rather than taking the bus, but who nonetheless elects to take the bus because driving in rush-hour traffic frightens him, is
A) behaving inefficiently. B) choosing what is for him the most efficient way to commute. C) rejecting economic efficiency for personal reasons. D) wasting scarce resources.
One way of overcoming the problem of the commons is to make it private property
Indicate whether the statement is true or false
If the Federal Open Market Committee wants to decrease the money supply through open market operations it will
A) buy U.S. Treasury Securities. B) decrease the discount rate. C) sell U.S. Treasury Securities. D) increase the discount rate.
An appreciation of the currency is likely to occur if:
(a) Domestic interest rates fall. (b) There is an increase in demand for imports. (c) There is an increase in demand for exports. (d) There is an increase in the balance of payments deficit.