What distinguishes an unemployed person from one who is not in the labor force?
What will be an ideal response?
A general definition of unemployment is a person who wants to work but does not have a job. A person who is not in the labor force does not have a job and does not want one. More specifically to be considered as unemployed, and thus in the labor force, the person must not have a job but must be available and willing to work. The person must also have made some effort to find work within the past four weeks, or be waiting to be called back to a job from which he or she has been laid off, or be waiting to start a new job within 30 days.
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In the balance of payments accounts, a net importer of capital is a nation that
a. sells more goods in foreign countries than it imports. b. must be running a trade surplus. c. sells more assets to individuals in other countries than the assets it buys from them. d. buys more assets from individuals in other countries than the assets it sells to them.
Suppose that competitive price-searcher firms are experiencing losses. In the transition from this initial situation to a long-run equilibrium,
a. the number of firms in the market decreases. b. each existing firm experiences a decrease in demand for its product. c. each firm experiences an upward shift to its marginal cost and average total cost curves. d. each existing firm's average total cost falls to bring economic profit back to zero.
According to the relative version of purchasing power parity, when the inflation differential between the foreign country and the home country is positive
A. the inflation rate in the home country tends to decrease. B. the domestic currency tends to appreciate. C. the inflation rate in the home country overshoots. D. the domestic currency tends to depreciate.
Refer to the above figure. The monopsonistic exploitation is
A. W2 - W5. B. W1 - W5. C. W2 - W4. D. W2 - W3.