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
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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.
Define microeconomics
What will be an ideal response?
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%
________ 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