A survey of 200,000 people finds 76,300 "employed," 6,640 "unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers?
A) 8.7 percent
B) 3.3 percent
C) 8.0 percent
D) 5.7 percent
C
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Which question is an illustration of a microeconomic question?
A. Is the purchasing power of the dollar higher or lower today than it was in 2008? B. Does government spending influence interest rates in the economy? C. Is the volume of wine produced in 1 year dependent on the price of wine? D. Does a government deficit reduce national economic growth?
Suppose that Jinelle, an engineer, has to choose between two jobs. Which of the following statements is true?
A) When deciding between both jobs, she should consider both wage and non-wage attributes of each job. B) While deciding between jobs, she should focus only on the costs of each job and ignore the benefits. C) While deciding between jobs, she should only focus on the benefits from each job and ignore the costs. D) While deciding between jobs, she should consider the wage attributes and ignore the non-wage attributes of each job.
The utility derived from consuming a good depends on:
a. the price of the good. b. the market demand for the good. c. your tastes and preferences. d. your income level.
In a monopolistically competitive industry,
A. there is only one firm. B. firms are small relative to the total market. C. firms can be either large or small relative to the total market. D. firms are large relative to the total market.