Given the following information, compute the unemployment rate: 9 million unemployed; 119 million employed.
What will be an ideal response?
unemployment rate = number of unemployed/labor force = 9/128 = 7 percent (or 7.03 percent)
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________ is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum
A) Economic efficiency B) Consumer efficiency C) Deadweight efficiency D) Producer efficiency
Holding everything else constant, an increase in the price of raisins will result in
A) an increase in the quantity of raisins demanded. B) a decrease in the quantity of raisins demanded. C) an increase in the demand for raisins. D) a decrease in the supply of raisins.
Which of the following statements is (are) correct? According to the Feldstein-Horioka Saving Investment Puzzle
a. countries with relatively low saving to income ratios have relatively high investment to income ratios. b. there is no correlation between investment and saving in developed countries. c. countries with a high ratio of saving to income have high ratios of investment to income. d. Both a and b
Interest rates typically rise when
A) bond prices increase. B) bond prices decrease. C) the coupon payout on existing bonds increase. D) the maturity date on existing bonds extends farther into the future.