Which of the following represents the participation rate?
A) the ratio of the number employed to the size of the labor force
B) the ratio of the number employed to the civilian noninstitutional population
C) the ratio of the labor force to the civilian noninstitutional population
D) the ratio of the labor force to the total number of employed and unemployed workers
C
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to real GDP in 2015 was ________ and in 2016 was ________.
A. $80,000; $88,000 B. $80,000; $90,000 C. $88,000; $90,000 D. $80,000; $99,000
If the demand curve is unit elastic, this implies that:
a. consumers do not react to a change in product price. b. the good can only be purchased in units of 1. c. this good has no good substitutes. d. the good is a basic food staple. e. the percentage change in the quantity demanded = the percentage change in product price.
A sign that Country A is under pressure to devalue its currency is its:
a. Overall balance is in surplus. b. Financialaccount is in deficit. c. Overall balance is in deficit. d. Reserves account is in deficit (i.e., negative). e. All of the above.
Everything else held constant, increased demand for a country's exports causes its currency to ________ in the long run, while increased demand for imports causes its currency to ________
A) appreciate; appreciate B) appreciate; depreciate C) depreciate; appreciate D) depreciate; depreciate