During a sustained economic expansion,
a. the rate of unemployment will generally fall and the employment/population ratio will generally rise.
b. the rate of unemployment will generally rise and the employment/population ratio will generally fall.
c. both the rate of unemployment and the employment/population ratio will generally decline.
d. both the rate of unemployment and the employment/population ratio will generally rise.
A
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Based on the information in the above table, what is the labor force participation rate?
What will be an ideal response?
An indication that Insurance companies anticipate adverse selection is
a. they require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
Normal profit is defined as a(n):
a. foregone percent rate of return. b. opportunity profit. c. implicit profit. d. minimum necessary to keep a firm in operation.
If a worker’s nominal wage moves from $180 per week in a base period to $300 per week subsequently, but the real wage rises to only $240, we can conclude that
a. prices have increased faster than nominal wages. b. the price level has increased by 25 percent. c. the worker’s purchasing power has increased 67 percent. d. the worker’s purchasing power has increased 150 percent.