Suppose the population of Toon Town is 100 people and the working-age population is 70. If 10 of these people are unemployed, the unemployment rate in Toon Town is
What will be an ideal response?
There is not enough information provided to calculate the unemployment rate.
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If the seller of a good gets less than his/her opportunity cost and the buyer pays more than his/her valuation of the good, economic value is created
Indicate whether the statement is true or false
A depreciation of the U.S. dollar will result in an increase in aggregate expenditures in the country
a. True b. False Indicate whether the statement is true or false
Under the old Soviet communist system, government planning was substituted for the _________________.
Fill in the blank(s) with the appropriate word(s).
Structural unemployment may be particularly severe for
A. younger workers B. college graduates. C. older workers. D. workers with “high tech” skills.