Suppose the population of the U.S. is 300 million people. Of these, the U.S. Bureau of Labor Statistics classifies 70 million people as "not surveyed," 80 million people as not in the labor force, and 144 million as employed. What would be the unemployment rate in this example?
Select one:
a. 2%
b. 4%
c. 6%
d. 8%
b. 4%
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Based on the information in the table, we can conclude that, in 1932, each of the following events occurred except: Currency held by public(in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. Banks were keeping more of their deposits in reserves, and making fewer loans. B. The Federal Reserve injected reserves into the banking system. C. The Federal Reserve conducted open-market sales of U.S. government bonds. D. The public increased the amount of currency it held.
The increase in a firm's total revenues resulting from hiring an additional unit of labor is known as the marginal:
a. product. b. revenue product. c. cost. d. none of these.
The demand for labor is downward-sloping because of
A. Falling MC. B. Rising P. C. Rising MPP. D. Diminishing returns to labor.
The De Beers diamond mining and marketing company of South Africa became one of the most profitable and longest-lived monopolies in history. Which of the following has always threatened De Beers' control of the diamond market?
A) At different times in the past some countries have banned the importation of diamonds from South Africa for political reasons. B) Competition from imitation diamonds. Technology has made it possible to make fake diamonds look exactly like real diamonds. C) Competition from other gemstones, including rubies and emeralds, that have become more popular over time. D) Since few diamonds are ever destroyed, De Beers has constantly faced possible competition from other firms reselling diamonds.