In a country with a working-age population of 20 million, 13 million are employed, 1.5 million are unemployed, and 1 million of the employed are working part-time, half of whom wish to work full-time. The size of the labour force is
A) 20 million.
B) 11.5 million.
C) 13 million.
D) 15.5 million.
E) 14.5 million.
E) 14.5 million.
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Suppose the inflation rate target is "0" and the long run federal funds target is also "0." If the inflation rate is 4% and the output gap is -2%, the federal funds rate set by the Taylor rule is ________
A) 8% B) 2% C) 5% D) 6%
Workers who work the night shift are often paid more than those who do identical work on the day shift. This is referred to as a
a. discriminatory wage practice. b. compensating differential. c. wage inequity. d. a market inefficiency.
What can cause a production possibilities curve to move to the right?
a) Thousands of people move out of the country b) A new invention lowers the cost of production c) An epidemic kills thousands of young men and women d) The population is growing increasingly old
An economy that interacts with other economies is called:
A. an international economy. B. a global economy. C. an open economy. D. a closed economy.