Suppose a nation has a total population of 100,000,000. Out of that, 70% are in the labor force and 65% of the population is employed. What is the nation's unemployment rate?
A) 5.0%
B) 7.1%
C) 7.7%
D) 30.0%
B
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Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (4) might represent
A. the purchase of stealth bombers. B. personal income taxes. C. investment spending by private corporations. D. the services of NASA astrophysicists.
One feature of the volunteer's dilemma is that as the group gets larger, individuals in the group are less likely to volunteer
Indicate whether the statement is true or false
The extra benefit associated with producing or consuming the next unit is called the:
A. revenue product. B. spillover. C. marginal benefit. D. economic benefit.
If a union negotiates and obtains a wage rate above the competitive wage rate,
A) it must find a way to make workers more productive. B) employment in the union sector will increase relative to employment in the nonunion sector. C) it must find a way to ration jobs among the excessive number of workers who wish to work in the union sector. D) unemployment will increase in the nonunion sector relative to the union sector.