The number of adults not in the work force of a country equals 6 million and the number of individuals employed is 5 million. If there are 12 million potential adult workers in the economy, what is the current unemployment rate in this country?
A) 21 percent B) 16.67 percent C) 30.55 percent D) 12.45 percent
B
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Very few societies have used price controls.
Answer the following statement true (T) or false (F)
Although an improvement in technology enables perfectly competitive firms to earn a positive economic profit in the short run, entry by new firms will ensure that those profits are eliminated over time
Indicate whether the statement is true or false
Which is a screen against adverse selection
a. Insurance companies require homeowners to have smoke detectors b. Rearview cameras in cars c. Installing engine monitors to track driving habits of the insured d. Prospective secretaries must take a typing test before being hired
According to the natural rate hypothesis, the unemployment rate should equal 0 percent in the long run
a. True b. False Indicate whether the statement is true or false