In a country with a working-age population of 30 million, 18 million are employed, 2 million are unemployed, and 2 million of the employed are working part-time, half of whom wish to work full-time. The employment-to-population ratio is
A) 60 percent.
B) 66.7 percent.
C) 73.3 percent.
D) 53.3 percent.
E) none of the above.
A) 60 percent.
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In general, a formula that a central bank uses to set interest rates in response to changing economic conditions is called a
A) rate-of-return equation. B) Taylor rule. C) central bank reaction function. D) market adaptation identity.
The socially efficient level of production occurs where the marginal cost curve intersects
a. average variable cost. b. average total cost. c. demand. d. marginal revenue.
The multiplier effect demonstrates how initial government purchases ______.
a. are equal to total purchases b. have no influence on total purchases c. lead to lower total purchases d. lead to higher total purchases
In 2006, the average U.S. household held approximately how much currency (dollar bills and coins)?
A) $50 B) $100 C) $600 D) $1600 E) none of the above