If a country's population (age 16 and over) is 50 million, with 2 million unemployed and 23 million currently holding jobs, the
a. unemployment rate is 4 percent, and the labor force participation rate is 46 percent.
b. unemployment rate is 8.0 percent, and the labor force participation rate is 50 percent.
c. unemployment rate is 4 percent, and the labor force participation rate is 50 percent.
d. unemployment rate is 8.7 percent, and the labor force participation rate 50 percent.
B
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The business cycle occurs because aggregate demand and aggregate supply change at uneven rates
Indicate whether the statement is true or false
The PPF determines
A) all possible outcomes for a given wage. B) the set of feasible outcomes. C) given leisure, how much consumption a household wants. D) the share of consumption in output.
Tacit collusion among firms does not involve explicit agreements on pricing and output levels
a. True b. False
Assume the Fed decreases the money supply and the demand for money curve is fixed. In response, people will:
A. sell bonds, thus driving up the interest rate. B. buy bonds, thus driving down the interest rate. C. buy bonds, thus driving up the interest rate. D. sell bonds, thus driving down the interest rate.