If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:
a. 8 percent
b. 20 percent.
c. 25 percent.
d. 32 percent.
c
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To convert a nominal GDP to a real GDP, you would use
A) the PCE deflator. B) the CPI measure. C) the GDP deflator. D) the PPI measure.
According to the classical system, a decrease in the income tax rate reduces the after-tax real wage
a. and shifts the labor supply schedule to the right. b. and shifts the labor supply schedule to the left. c. without shifting the labor supply schedule. d. None of the above
The Great Northern railroad was privately managed well by James J. Hill (1889) and never went bankrupt
Indicate whether the statement is true or false
Which statement is FALSE considering both advantages and disadvantages of corporations as a legal business organization?
A) Perhaps the greatest advantage of corporations is that their owners (the shareholders) enjoy limited liability—limited to the value of their shares. B) Legally the corporation continues to exist even if one or more owners cease to be owners. C) Corporations usually are not as well positioned as proprietorships and partnerships to raise large sums of financial capital. D) Separation of ownership and control is a disadvantage of the corporate structure; owners and managers may have different incentives.