The unemployment rate in an economy is 7.5 percent. The total population of the economy is 250 million and the size of the civilian labor force is 180 million. The number of employed workers in this economy is:
A. 13.5 million
B. 15.7 million
C. 166.5 million
D. 174.6 million
C. 166.5 million
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In game theory, a strategy that is optimal no matter what your opponent does is called a dominant strategy
a. True b. False Indicate whether the statement is true or false
Which of the following best defines the specialization of resources?
a. Workers are compensated as individuals. b. Special resources are needed to produce most goods. c. Each resource is paid for in full. d. Each resource is paid the most if it is specialized. e. Each resource is focused on a limited number of productive activities.
When people like yourself take extra (unbudgeted) money along on an extended trip, economists classify this money as satisfying your
a. speculative motive b. transactions motive c. emergency motive d. precautionary motive e. inflationary motive
Former Fed Chairman Alan Greenspan has argued that low ___________ interest rates, not ______________ interest rates, were the cause of the housing boom in the late 1990s and early 2000s. He also argued that the Fed has more control over _______________ rates than over ____________ rates
A) long-term; short-term B) long-term; long-term C) short-term; short-term D) short-term; long-term