Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?
A. 800 million
B. 250 million
C. 1.6 billion
D. 1.0 billion
Answer: D
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An externality is_____
a. an unintended by-product of market exchange that is allocated outside the market system b. an intended by-product of market exchange that is allocated outside the market system c. an unintended by-product of market exchange that is allocated within the market system d. an intended by-product of market exchange that is allocated within the market system
Identify the impact of an increase in the inventory stock during a year
a. Consumption spending will decrease thereby reducing the GDP. b. The GDP of a country should decrease by the amount of the increase in inventory. c. The capital investment in a country will increase. d. Neither the capital investment nor the GDP will change. e. The GDP of a country should increase by the amount of the increase in inventory.
If the price level in the United States decreases, domestic goods will become relatively cheaper than foreign goods, the demand for U.S.-made goods will increase, and the U.S. aggregate demand curve will shift to the right
a. True b. False Indicate whether the statement is true or false
Which of the following is a major source of inefficiency?
A. price taking B. market power C. perfect competition D. all of the above