In a country with a working-age population of 30 million, 18 million are employed, 2 million are unemployed and 2 million of the employed are working part-time, half of whom wish to work full-time. The labour force participation rate is

A) 60 percent.
B) 66.7 percent.
C) 53.3 percent.
D) 73.3 percent
E) none of the above.


B) 66.7 percent.

Economics

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Indicate whether the statement is true or false

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In general, the largest sources of revenue for state and local governments come from:

a. Sales taxes and property taxes b. Sales taxes and corporate taxes c. Property taxes and individual income taxes d. Individual income taxes and sales taxes

Economics

A monopoly sets a market price that is higher than the marginal cost of production. This fact implies that a monopoly's allocation of resources is:

A. unfair. B. inefficient. C. discriminatory. D. excessive.

Economics

The short-run industry supply curve for a perfectly competitive industry is the

A. horizontal sum of the individual firms' marginal cost curves above ATC. B. vertical sum of the individual firms' marginal cost curves above ATC. C. horizontal sum of the individual firms' marginal cost curves above AVC. D. vertical sum of the individual firms' marginal cost curves above AVC.

Economics