The unemployment rate is equal to
A. the number unemployed divided by the labor force.
B. the number unemployed divided by the population.
C. the number unemployed divided by the number employed.
D. the labor force divided by the population.
Answer: A
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Which of the following will prevent firms from engaging in price discrimination?
A) odd pricing B) transactions costs C) arbitrage D) yield management
Using Figure 3 below, suppose that the economy was at Y1. This level of GDP would be considered:
A. inflationary.
B. recessionary.
C. a long run level of output.
D. a natural rate of output.
After Hurricane Katrina, construction wages in New Orleans rose partly because of the loss of a working population
a. True b. False Indicate whether the statement is true or false
Suppose that income taxes are reduced by $400 billion and households increase consumption by 80% of the resulting change in disposable income. Suppose also that the multiplier is 2. What is the marginal propensity to consume?
A) 0.2 B) 0.4 C) 0.8 D) 1.6