Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are unemployed this economy?
A. 12.0 million
B. 28.8 million
C. 18.0 million
D. 43.2 million
Answer: C
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Taxes provide individuals with incentive to:
(a) Increase the number of working hours. (b) Increase productivity by working longer and harder. (c) Direct resources to uses where taxes are relatively low or nonexistent. (d) Buy and save more.
According to official statistics in the United States, a family is considered to live in poverty if its money income:
A. and all government transfers are below three times an average family's minimum food budget. B. is below the income earned by 80 percent of all Americans. C. is below the income earned by 90 percent of all Americans. D. is below three times an average family's minimum food budget.
The GDP deflator is designed to
What will be an ideal response?
How does technology relate to a seller’s input prices?
a. An efficient technology can often lower input prices. b. An efficient technology can often raise input prices. c. An inefficient technology can often lower input prices. d. An inefficient technology can often eliminate input prices.