Which of the following pieces of information do you need to calculate the labor force participation rate?
I. the number of employed persons
II. the number of unemployed persons
III. the population
IV. the working age population
A) I and II
B) I and III
C) I, II and III
D) I, II and IV
D
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Demand is unit elastic when
A) the slope of the demand curve is -1. B) a shift of the supply curve leads to no change in price. C) a shift of the supply curve leads to an equal shift of the demand curve. D) a change in the price of the product leads to no change in the total revenue.
The tools of Fed monetary policy, in order from most frequently to least frequently used, are
a. open market operations, discount rate changes, and legal reserve requirement changes b. open market operations, legal reserve requirement changes, and discount rate changes c. discount rate changes, legal reserve requirement changes, and open market operations d. legal reserve requirement changes, open market operations, and discount rate changes e. legal reserve requirement changes, discount rate changes, and open market operations
A patent gives a single person or firm the exclusive right to sell some good or service for a specific period of time
a. True b. False Indicate whether the statement is true or false
Tom obtains a car loan from Old Town Bank.
A. The car loan is Tom's asset and the bank's liability. B. The car loan is Tom's asset, but the liability belongs to the bank's depositors. C. The car loan is Tom's liability and a liability of the bank until Tom pays it off. D. The car loan is Tom's liability and an asset for Old Town Bank.