Which of the following pieces of information do you need to calculate the labor force participation rate?
I. the number of employed persons
II. the number of unemployed persons
III. the population
IV. the working age population
A) I, II and IV
B) I and III
C) I and II
D) I, II and III
E) all of the above
A) I, II and IV
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Refer to Table 6-8. What is the numerical value of the price elasticity of supply?
A) 0 B) 1 C) greater than 0 but less than 1 D) greater than 1
Early Keynesians concluded that the quantity of money was not important because they assumed
a. low interest elasticity of money demand and high interest elasticity of the demand for output. b. high interest elasticity of money demand and low interest elasticity of the demand for output. c. high interest elasticity of money demand and high interest elasticity of the demand for output. d. both low interest elasticity of money demand and of the demand for output.
When Mexico suffered from capital flight in 1994, Mexico's net capital outflow
a. and net exports decreased. b. and net exports increased. c. increased while net exports decreased. d. decreased while net exports increased.
Ceteris paribus, if the corn crop is 15 percent larger this year than it was last year, farmers will have to ________ the price of corn by ________ to sell the new crop.
A. reduce; exactly 15 percent B. raise; more than 15 percent C. reduce; more than 15 percent D. reduce; less than 15 percent