The unemployment rate is calculated as follows:
A) labor force/number of unemployed.
B) labor force participation rate/number of unemployed.
C) number of unemployed/labor force.
D) number of employed/labor force.
C
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Shoe-leather costs refer to:
A. the money, time, and opportunity used to change prices to keep pace with inflation. B. the time, money, and effort one has to spend managing cash in the face of inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
A rightward shift of a demand curve is called a(n)
a. increase in demand. b. decrease in demand. c. decrease in quantity demanded. d. increase in quantity demanded.
If the price of "X" increases and you buy more "Y," then
A. "X" and "Y" are complements, and the price of "Y" will decrease. B. "X" and "Y" are substitutes, and the price of "Y" will decrease. C. "X" and "Y" are complements, and the price of "Y" will increase. D. "X" and "Y" are substitutes, and the price of "Y" will increase.
Suppose the only revenue taken in by the government is in the form of income tax, and the tax rate is 10%. If aggregate income is $800 billion, and government expenditures are $100 billion then the government budget has...
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