In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The unemployment rate of the economy is equal to:
a. U/(E + NLF)
b. U/E.
c. U/(U + E).
d. U/(E + NLF).
e. U/(U + E ? NLF).
c
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Assume the demand function for good X can be written as Qd = 80 - 3Px + 2Py + 10I, where Px = the price of X, Py = the price of good Y, and I = Consumer income. According to this equation:
A) a rise in the price of Y would cause the demand for X to decrease. B) X and Y are complements C) X is an inferior good. D) X and Y are substitutes.
An asset that derives its value from some other underlying asset is a
A) stock. B) bond. C) derivative. D) CD.
The PPF of a country will be skewed toward the good that:
A. uses its scarce factor intensively. B. uses its abundant factor intensively. C. uses its intensive factor abundantly. D. does not use its intensive factor abundantly.
Refer to the information provided in Figure 3.16 below to answer the question(s) that follow.
Figure 3.16Refer to Figure 3.16. When the economy moves from Point C to Point B, there has been
A. a decrease in demand and a decrease in supply. B. an increase in quantity demanded and an increase in quantity supplied. C. an increase in demand and a decrease in supply. D. an increase in demand and an increase in supply.