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. 43.2 million
B. 12.0 million
C. 18.0 million
D. 28.8 million


Answer: C

Economics

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Suppose a country produces only bikes and clothing. The country achieves an efficient allocation of resources when

A) it can't produce any more bikes unless it gives up clothing. B) it produces equal amount of bikes and clothes. C) the marginal social benefit of producing a bike equals the marginal social cost of producing a bike. D) the prices charged for the goods are as low as possible.

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The table above describes the market for paper. The production of paper produces pollution. There are no external benefits. What is the efficient amount of paper?

A) 10 tons per week B) 60 tons per week C) 40 tons per week D) 30 tons per week

Economics

The financial chaos of the antebellum period clearly impeded economic growth and development in the long run

Indicate whether the statement is true or false

Economics