If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate?
A) 12.5%
B) 37.5%
C) 40%
D) 62.5%
Answer: D
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The federal government
a. runs a deficit when tax revenues are greater than government purchases. b. runs a surplus when tax revenues are smaller than government purchases. c. runs a deficit when tax revenues are greater than government outlays. d. runs a surplus when tax revenues are greater than government outlays. e. runs a surplus when tax revenues are smaller than transfer payments..
In the 1990s, inflation in the United States was
a. very close to zero. b. about 3 percent per year. c. about 6 percent per year. d. commonly referred to as "public enemy number one.".
Figure 10-4
Figure 10-4 shows the industry's supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S3, the firm is
a.
going to shut down.
b.
incurring losses.
c.
earning zero economic profits.
d.
earning economic profit greater than zero.
If choice architects frame choices in terms of social norms people will:
A. behave according to how they view that norm. B. behave with the majority. C. be unaffected by what the majority is doing. D. behave in the opposite way, because "going rogue" is celebrated in our culture.