Suppose the population (age 16 and over) of Madagascar is 200 million; 9 million are unemployed, and 111 million hold jobs. Indicate the rate of unemployment and the employment/population ratio of Madagascar
a. The unemployment rate is 4.5 percent, and the employment/population ratio is 55.5 percent.
b. The unemployment rate is 7.5 percent, and the employment/population ratio is 60 percent.
c. The unemployment rate is 7.5 percent, and the employment/population ratio is 55.5 percent.
d. The unemployment rate is 8.1 percent, and the employment/population ratio is 60 percent.
C
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If profits are high because the price level rose,
A) the AS curve shifts leftward. B) it is likely the result of an increase in the real wage rate. C) business failures rise and the quantity of real GDP supplied increases. D) new businesses open and the quantity of real GDP supplied increases. E) potential GDP must be decreasing.
If firms' expectations about the future become pessimistic so that they think future profits will be lower, then
A) aggregate demand decreases and the AD curve shifts leftward. B) aggregate demand increases and the AD curve shifts rightward. C) the quantity of real GDP demanded decreases, and there is a movement up along the AD curve. D) the quantity of real GDP demanded increases, and there is a movement down along the AD curve. E) the aggregate demand curve does not shift, but potential GDP decreases.
The CORRECT ranking of the four basic market structures from low (Herfindahl-Hirschaman Index) HHI to high HHI is
A) perfect competition, oligopoly, monopolistic competition, monopoly. B) monopoly, oligopoly, monopolistic competition, perfect competition. C) perfect competition, monopolistic competition, oligopoly, monopoly. D) monopoly, monopolistic competition, oligopoly, perfect competition.
Residential investment did NOT decline in the recession which began in
A) 1973. B) 1981. C) 1990. D) 2001.