In June 2009 the Bureau of Labor Statistics reported an adult population of 234.9 million, a labor force of 154 million and employment of 141.6 million. Based on these numbers the unemployment rate was
a. 93.3/234.9.
b. 12.4/234.9.
c. 93.3/154.
d. 12.4/154.
d
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Exhibit 30-4
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When there is market failure due to a negative externality,
a. innocent people will suffer since it cannot be corrected. b. setting price equal to marginal social cost will solve it. c. the free market produces too little output. d. externalities have been taken into account. e. the best solution eliminates the externality entirely.
The required reserve ratio is required reserves stated as a percentage of the money supply
a. True b. False Indicate whether the statement is true or false
The figure below represents the domestic market for wheat in a small country. Imports of wheat are prohibited.
With an export subsidy of $20 per bushel, the cost to the government of paying the export subsidy is
A. $600 million. B. $2.2 billion. C. $3 billion. D. $1.2 billion.