Suppose the official unemployment rate is 10 percent. We can conclude without question that:
a. the same 10 percent of the people in the economy were out of work for the entire ear.
b. one of every 10 people in the civilian labor force is currently unemployed.
c. the same 10 percent of the people in the civilian labor force were out of work for the entire year.
d. every person in the civilian labor force was out of work for 10 percent of the year.
e. 10 percent of the people in the economy were out of work for 10 percent of the year.
b
You might also like to view...
An isoquant identifies all of the combinations of two inputs that result in the same total costs of production
Indicate whether the statement is true or false
A payoff matrix
A) shows the payoffs (i.e. bribes) required to government officials for firms undertaking specific actions. B) details the actions each firm takes. C) shows the payoffs to each firm for each possible outcome. D) is optional in game theory.
Figure 11-6
The profit-maximizing monopolist in Figure 11-6 will produce ____ units of output.
A. Q1 B. Q2 C. Q3 D. Q4
Which of the following conditions distinguishes monopolistic competition from perfect competition?
a. the number of sellers in the market b. the freedom of entry and exit by firms in the market c. the size of firms in the market d. product differentiation