:Employed full-time:4,200Employed part-time: 700Not employed and looking for work: 300Not employed and not looking for work: 200
Suppose that 50 percent of the part-time workers of Metropolis are looking for full-time jobs. Given the data in Table 12.1, if these workers were counted as not employed and looking for work, the unemployment rate of Metropolis would be approximately:
A. 6 percent.
B. 13 percent.
C. 16 percent.
D. 21 percent.
Answer: B
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A) emphasizes maintaining interest rates below 5%. B) lays more emphasis on controlling employment than on controlling inflation. C) emphasizes maintaining unemployment rates below 5%. D) lays more emphasis on controlling inflation than on controlling employment.
Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) personal trainers are deliberately charging high prices because they provide services for wealthy clients. B) the demand for personal trainers has increased. C) the law of demand has been violated. D) the number of personal trainers has increased.
If the economy is in a long-run equilibrium when the Federal Reserve decides that its inflation target is too low and chooses to raise it, ________
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