In a certain country, the labor force is 30 million and the unemployment rate is 5 percent. What is the amount of unemployed individuals in this country?

(A) 15,000
(B) 1.5 million
(C) 15 million
(D) 150,000


Ans: (B) 1.5 million

Economics

You might also like to view...

An example of an aggregate supply shock is

A) the cutoff of oil by the OPEC nations in the early 1970s. B) inflation caused by a surge in demand. C) the increase in the labor force due to the baby-boomer generation reaching working age. D) the increase in candy sales every February.

Economics

Define microeconomics

What will be an ideal response?

Economics

If the interest rate on a U.S. one-year bond is 2%, the interest rate on a Brazilian one-year bond is 8%, and the currency premium on reals (Brazilian currency) is 3%,

what is the expected rate of appreciation of the U.S. dollar according to interest-rate parity? A) -3% B) 3% C) 5% D) 6%

Economics

________ legislation generates concentrated benefits but imposes widespread costs, while ________ legislation generates concentrated benefits for one group, and imposes concentrated costs upon another group

a. Public interest; special interest b. Special interest; median voter c. Rationally ignorant; public interest d. Special interest; competing-interest

Economics