The unemployment rate is
A. the number unemployed divided by the labor force.
B. the number unemployed divided by the population.
C. the difference between the population and the number employed divided by the population.
D. the number unemployed divided by the number employed.
Answer: A
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Why does inflation cause problems in a society?
A) It gives people an incentive to hold money rather than spend it and provide income for others. B) It makes everything more expensive in real terms. C) People aren't able to anticipate it accurately. D) The cost of living rises for almost everyone in an inflation. E) For all of the above reasons.
A bank that mismatches its asset and liability maturities is
A) trying to reduce credit risk. B) willingly accepting greater credit risk. C) essentially engaging in interest-rate speculation. D) trying to protect itself against interest rate movements.
Property rights often remain poorly defined because of _____
a. difficulty enforcing ownership once defined b. government fiat c. strong incentives towards the status quo d. monopolies
For an economy as a whole, income must equal expenditure because
a. the number of firms is equal to the number of households in an economy. b. individuals can only spend what they earn each period. c. every dollar of spending by some buyer is a dollar of income for some seller. d. every dollar of saving by some consumer is a dollar of spending by some other consumer.