Data for an economy show that the unemployment rate is 6 percent, the participation rate is 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?
A. 333 million
B. 500 million
C. 1.20 billion
D. 800 million
Answer: B
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Peanut butter and jelly are complements for consumers. In 2015, the price of peanut butter increased. As a result, the ________ which lead to ________ in the price of jelly and ________ in the quantity of jelly
A) demand for jelly; a decrease; a decrease B) supply of jelly; a decrease; an increase C) supply of jelly; an increase; a decrease D) demand for jelly; an increase; an increase
Which of the following is not prohibited by the Clayton Act, even if it reduces competition?
a. merger accomplished through the acquisition of another firm's stock b. merger accomplished through the acquisition of another firm's assets c. price discrimination that cannot be justified on the basis of cost differences d. exclusive dealing contracts e. interlocking directorates
In a centrally planned economy;
(a) All resources are allocated by the government based on consumer choice. (b) Those with the highest skill levels receive more income than those with the lowest skill levels. (c) All resources are allocated by the government based on their decisions. (d) There are significant incentives to engage in private enterprise
Assume the Keynesian transmission mechanism is operational and the economy is currently operating in the horizontal portion of the AS curve. If the money supply decreases and the demand for money curve is downward sloping and investment is interest-____________, then Real GDP will ___________________
A) sensitive; fall B) insensitive; fall C) sensitive; rise D) insensitive; rise E) sensitive; remain unchanged