Who is an unemployed worker? If the number of employed workers in a country, where the size of the labor force is 4 million, is 2.75 million, what is the number of unemployed workers in the country?
What will be an ideal response?
A worker is unemployed if he or she does not have a job, has actively looked for work in the prior four weeks, and is currently available for work.
The labor force in a country equals the sum of employed workers and unemployed workers. Hence, the number of unemployed workers in the country is (4 - 2.
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In the figure above, which of the following is true?
i. Governments coordinate economic activities of households and firms. ii. Governments buy goods and services in goods markets. iii. Households pay taxes directly to firms. A) i and ii B) only i C) only iii D) ii and iii E) only ii
Given the U.S. price level P, the foreign country price level P*, and the real exchange rate RER in foreign currency per U.S. dollar, the nominal exchange rate E would be given by
A) E = RER × (P/P*). B) E = RER × (P*/P). C) E = (P/P*) / RER. D) E = P × (RER/P*).
In the short run, when the Fed increases the quantity of money
A) bond prices rise and the interest rate falls. B) bond prices fall and the interest rate rises. C) the demand for money increases. D) the supply of money curve shifts leftward.
A man may be preferred to a woman by an employer who will make a substantial investment in the training of the employee because
a. most employers are sexist and think that women belong in the home caring for children. b. as a group women tend to have a weaker attachment to the labor force than men. c. employers have observed that women are less productive than men on most jobs. d. employers are afraid women will disrupt the workplace by distracting the male employees.