Refer to the information provided in Table 22.1 below to answer the question(s) that follow. Table 22.1
Refer to Table 22.1. The labor-force participation rate is
A. 66.7%.
B. 75.0%.
C. 77.8%.
D. 80.9%.
Answer: D
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The reason that the government offers inventors exclusive rights to their product for a period of time is to
A) promote innovation. B) increase profits of certain companies. C) maximize consumer utility. D) reduce market concentration.
One of the difficulties of the government privatizing a common resource is:
A. figuring out who owns what when many are using the resource. B. deciding which individuals will have to decrease their consumption. C. compounded the more users there are. D. All of these statements are true.
Assume that a GDP gap can be closed by a $200 initial change in planned spending. The MPS is 0.3 and the MPI equals 0.1 . If the economy is currently in equilibrium with an income level of $600, potential GDP equals:
a. $1,600. b. $1,100. c. $800. d. $600. e. $400.
If the Federal Reserve sells $1,000 in bonds and the required reserve ratio is 0.1 (assume banks hold no excess reserves) what will be the total change in reserves at all banks?
a. $10,000 b. $1,000 c. -$10,000 d. -$1,000 e. -$1,100