In 2014, the Italian adult non-institutionalized population was 38.8 million, the labor force was 25.4 million, and the number of people employed was 22 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about
a. 65.5% and 13.4%
b. 65.5% and 8.8%
c. 56.7% and 13.4%
d. 56.7% and 8.8%
a
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Refer to the scenario above. If the government of India wants to repay a lower sum of money to the U.S., it should:
A) buy both dollars and rupees. B) sell both dollars and rupees. C) buy dollars and sell rupees. D) buy rupees and sell dollars.
One characteristic of a public good is that it
A) is available for consumption by only a few individuals at any particular time. B) always eliminates the free-rider problem. C) can be consumed simultaneously by many individuals. D) can be easily subdivided into small units.
What is the effect of diminishing returns to labor on the slope of the aggregate production function (where output is measured on the vertical axis and employment is measured on the horizontal axis)?
a. It implies that the slope of the curve increases as the number of workers employed increases. b. It implies that the slope of the curve becomes negative as the number of workers employed increases. c. It implies that the slope of the curve decreases (or becomes flatter) as the number of workers employed increases. d. It keeps the slope the same throughout. e. It has nothing to do with the slope of the aggregate production function.
The Ponderosa Bank receives a new deposit of $2,500. The reserves requirement is 20 percent. How much can this bank loan out as a result of this deposit?
A. $25,000 B. $12,500 C. $3,125 D. $2,000 E. $500