The fraction of people who would like to be employed, but can't find work is called the:
A. average labor productivity rate.
B. Participation rate
C. inflation rate.
D. unemployment rate.
Answer: D
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The demand for a necessity generally is
A) very elastic. B) infinitely elastic. C) unaffected by income. D) inelastic. E) unit elastic.
What are the effects of an expansionary monetary policy on interest rates and output in an open economy with floating exchange rates?
What will be an ideal response?
If two goods are complements, their cross elasticity of demand will normally be
a. zero. b. a negative number. c. a positive number. d. infinity.
Which of the following does purchasing-power parity conclude should equal 1?
a. both the nominal and the real exchange rate.
b. the nominal exchange rate but not the real exchange rate
c. the real exchange rate but not the nominal exchange rate
d. neither the nominal exchange rate nor the real exchange rate