Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?
a. 6.25%
b. 8.3%
c. 9.1%
d. 18.75%
b
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The amount by which an aggregate expenditures schedule must shift upward to achieve the full-employment real GDP is a(n)
A. recessionary expenditure gap. B. negative net export gap. C. expenditure multiplier gap. D. inflationary expenditure gap.
Which of the following statements is true?
A) Network effects arise because of economies of scale. B) Economies of scale arise because of network effects. C) Economies of scale act as barriers to entry into a market. D) Network effects provide incentives to new sellers to enter the market.
Suppose the government imposes a 50-cent tax on the sellers of packets of chewing gum. The tax would
a. shift the supply curve upward by less than 50 cents. b. raise the equilibrium price by 50 cents. c. create a 50-cent tax burden each for buyers and sellers. d. discourage market activity.
In the United States each year,
A. more than 50 percent of all businesses fail. B. less than 25 percent of all businesses fail. C. over 10 percent of all businesses fail. D. only about 5 percent of all businesses fail.