Which of the following statements is false?
a. The sum of the unemployment rate and the employment rate always equals 100 percent.
b. The sum of the number of employed persons and the number of unemployed persons equals the civilian non-institutional population.
c. The labor force participation rate equals the number of persons in the civilian labor force divided by the number of persons in the total population.
d. a, b, and c
Answer: d. a, b, and c
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Suppose that an Intel worker rearranges existing machines and labor and increases the quantity of chips Intel can produce. Using the productivity curve graphed, this innovation would be described as
A) a movement upward along the curve. B) a movement downward along the curve. C) a shift of the curve upward. D) a shift of the curve downward. E) no change to the productivity curve.
A decrease in the money supply
a. lowers the interest rate, causing a decrease in investment and a decrease in GDP b. lowers the interest rate, causing a decrease in investment and an increase in GDP c. raises the interest rate, causing an increase in investment and a decrease in GDP d. raises the interest rate, causing an increase in investment and an increase in GDP e. raises the interest rate, causing a decrease in investment and a decrease in GDP
Production is efficient if the economy is producing at a point
a. on the production possibilities frontier. b. outside the production possibilities frontier. c. on or inside the production possibilities frontier. d. inside the production possibilities frontier.
Countries that pursued outward-oriented policies in the 20th century
a. experienced lower rates of economic growth than did countries that pursued inward-oriented policies. b. experienced higher levels of political instability than did countries that pursued inward-oriented policies. c. include Singapore, South Korea, and Taiwan. d. All of the above are correct.