Which of the following would you need to know to calculate the unemployment rate?
a. the size of the active military
b. the number of discouraged workers
c. the size of the civilian labor force
d. the number of workers still enrolled in high school
c. the size of the civilian labor force
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Which of the following was NOT a result of the passage of the Gramm-Leach-Bliley Act?
A) It repealed the Glass-Steagall Act. B) It allowed commercial banks to participate in securities, insurance, and real estate activities. C) It authorized new financial holding companies which permitted securities and investment firms to own commercial banks. D) It increased the capital requirements for commercial banks.
Briefly describe the three main social insurance programs (Social Security, Medicare, and unemployment insurance).
What will be an ideal response?
If the substitution effect of wage increases is greater than the income effect, then the individual labor supply curve is positively sloped in the short run.
Answer the following statement true (T) or false (F)
A common argument for fixed exchange rates is that they
A) give central banks greater freedom in adjusting their economy's level of output. B) forever free the central bank from have to adjust the exchange rate to fundamental changes in the economy. C) make trade more costly, and thus encourage domestic citizens to buy domestically produced output. D) all of the above E) none of the above