In the above table, the employment-to-population ratio is
A) 51 percent.
B) 42 percent.
C) 62 percent.
D) 44 percent.
D
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Which of the following statements best illustrates the concept of derived demand?
A. When the price of gasoline goes up, the demand for motor oil will decline. B. As income goes up, the demand for farm products will increase by a smaller relative amount. C. A decline in the price of margarine will reduce the demand for butter. D. A decline in the demand for shoes will cause the demand for leather to decline.
Which of the following best describes the effect on the aggregate supply curve if political negotiations result in a substantial decrease in the price of oil?
A) There is no change to the AS curve. B) The AS curve does not shift but there is a downward movement along it. C) The AS curve shifts leftward. D) The AS curve does not shift but there is an upward movement along it. E) The AS curve shifts rightward.
The long run outcome of the monopolistically competitive firm:
A. is not efficient. B. does not maximize profits. C. is the same as the short-run outcome. D. maximizes total surplus.
Which of the following is an example of an automatic stabilizer?
a. Decrease in tax rates by Congress in times of unemployment b. Decrease in tax rates by Congress in times of inflation c. Increase in government defense spending during war d. Increase in unemployment compensation during recession e. Decrease in welfare programs during inflation