Based on the information in the above table, what is the unemployment rate? What is the labor force participation rate?
What will be an ideal response?
The unemployment rate equals (6 million unemployed) ÷ (139 million labor force) × 100 = 4.3 percent. The labor force participation rate equals (139 million labor force) ÷ (207 million working-age population) × 100 = 67.1 percent.
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Which of the following is NOT an asset of commercial banks?
A) business loans B) consumer loans C) home mortgages D) savings deposits
In a monopolistically competitive market if the additional revenue generated from advertising equals the additional cost of advertising, the firm should
A) advertise more to increase sales. B) advertise more to lower marginal costs. C) maintain its current amount of advertising. D) advertise less to decrease costs.
The greater the magnitude of the external benefits of production, a. The larger is the deadweight loss from overproduction
b. The greater would be the optimal tax. c. The less the private market solution would deviate from the socially efficient level of output. d. All of the above are true.
Cross elasticity of demand for
a. substitutes will normally be positive. b. complements will normally be positive. c. substitutes will normally be negative. d. complements will normally be infinite.