Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. What's the unemployment rate?

A) 20 percent
B) 25 percent
C) 33 percent
D) 40 percent
E) 60 percent


B

Economics

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A country's labor demand curve shifted to the right after the adoption of a new technology. This implies that the use of the new technology ________, assuming all else equal

A) reduced the marginal product of labor B) lowered the minimum wage that firms need to pay C) increased the minimum wage that firms need to pay D) increased the marginal product of labor

Economics

Which of the following does not arise from price discrimination?

A) an increase in quantity sold B) an increase in profits C) an increase in consumer surplus D) an increase in producer surplus

Economics

In the early 1920s U.S. consumer prices fell, while Germany experienced hyperinflation. According to the ideas of shoeleather costs and menu costs, U.S. households (relative to German households) made _____ frequent trips to the bank and U.S. firms changed prices _____ frequently

Fill in the blank(s) with correct word

Economics

In the inverted-U theory of R&D, which of the following industry concentration ratios would be most conducive to R&D (as a percentage of firm sales)?

A. 1 percent. B. 10 percent. C. 50 percent. D. 70 percent.

Economics