The unemployment rate equals the number of persons
a. unemployed divided by the number employed.
b. unemployed divided by the number in the labor force.
c. unemployed divided by the population age 16 and over.
d. not working divided by the population age 16 and over.
B
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The slope of the consumption function is equal to: a. the MPC
b. the MPS. c. 1/(1 - MPC). d. MPC - MPS.
Interest rate
What will be an ideal response?
Real GDP per person can increase:
A. only if the share of the population employed decreases. B. if the share of population employed and/or average labor productivity increases. C. only if average labor productivity increases. D. only if the share of the population employed increases.
Rent controls are an example of a
A. price floor for the consumer and a price ceiling for the producer. B. nonprice rationing device. C. price floor. D. price ceiling.