Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy?

A. 300 million
B. 188 million
C. 30 million
D. 282 million


Answer: D

Economics

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(a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods.

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The supply schedule is a description of

A. the basis of calculating market price. B. the quantity demanded at a single price. C. the supply offered according to demand. D. the relationship between quantity supplied and market price.

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When quantity demanded is greater than quantity supplied, the resulting shortage causes the price to fall.

Answer the following statement true (T) or false (F)

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An increase in the number of job quits would suggest that it is becoming

What will be an ideal response?

Economics