The unemployment rate is
A) the percentage of the labor force that is unemployed.
B) the percentage of the number employed that is unemployed.
C) the percentage of the working-age population that is employed.
D) the percentage of the working-age population that is unemployed.
E) the percentage of the labor force that is employed.
A
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Suppose the marginal propensity to consume is 0.75. A $150 billion increase in government spending shifts the IS curve
A) to the right by $50 billion. B) to the left by $50 billion. C) to the left by $600 billion. D) to the right by $600 billion.
Market failure can be caused by
a. low consumer demand. b. equilibrium prices. c. externalities and market power. d. high prices and foreign competition.
One reason a country might choose a flexible exchange rate
A) to reduce inflation and promote a stable economic environment.
B) to reduce the impact of economic shocks.
C) to rid themselves of the pressure of monetary management.
D) that it is easier for all citizens to understand.
If the long-run Phillips curve is vertical, then any government policy designed to lower:
A. unemployment will not change the unemployment rate and only increase the inflation rate. B. unemployment will work leaving the inflation rate unchanged. C. inflation will cause employment to rise. D. unemployment will work causing the inflation rate to fall.