Which of the following statements is true?
A) If the actual unemployment rate is currently 5% and the natural unemployment rate is 5%, then the economy is operating at full-employment.
B) The labor force participation rate is equal to the civilian noninstitutional population divided by the civilian labor force.
C) A discouraged worker is counted as an unemployed worker.
D) a and c
E) a, b, and c
A
You might also like to view...
Which of the followingbestdescribes the economic concept of utility?
a. Utility is the total number of units a consumer buys. b. Utility measures the usefulness of goods, such as tools or food, and so goods such as artwork or attractive landscaping by definition has no utility. c. Utility measures the satisfaction, or pleasure, that people receive from consuming a good or service. d. None of the above are correct.
Suppose that the average total cost of producing 5,000 Corvettes is $30,000 and the average total cost of producing 10,000 Corvettes is also $30,000 . Assuming this cost structure continues to hold, what can you say about the change in General Motors' total cost of Corvette production when they make the 10,001st car?
a. The total cost of production does not change at all. b. The total cost of production will increase by the average variable cost of the next car. c. The change is negative because there are diseconomies of scale. d. There is not enough information to answer this question. e. The total cost of production will increase by $30,000.
Setting performance goals based on historical data and past performance creates:
A. a ratchet effect. B. a compensating differential. C. opportunism. D. the horizon problem.
If a 10% decrease in price for a good results in a 20% increase in quantity demanded, the price elasticity of demand is
a. 0.50. b. 1. c. 1.5. d. 2.