The working-age population consists of all the people in the population
A) aged 16 and over.
B) aged 16 to 65.
C) aged 16 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces.
D) aged 21 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces.
E) who are employed plus the unemployed people.
C
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Summarize the effects of a subsidy on the market price and the quantity produced
What will be an ideal response?
The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If a $1 per unit tariff is imposed on imported rice, the quantity of imported rice will decrease by
A) 15 units. B) 25 units. C) 35 units. D) 50 units.
Suppose in a given year, GDP was $7,242 billion and the GDP chain price index for that year is 117.5. Real GDP is:
A. $5,488 billion. B. $6,163 billion. C. $6,740 billion. D. $7,789 billion.
If the inflation rate in the U.S. is lower than in other countries, this would be expected to
A. increase U.S. exports. B. reduce U.S. imports. C. increase the demand for dollars. D. All of the choices are true.