Job losers typically account for ____ of the unemployed
a. 80 to 90 percent
b. 50 to 60 percent
c. 30 to 40 percent
d. 10 to 20 percent
b
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The price elasticity of supply for a product will be 2 if a
A. 1% decrease in price causes a 0.2% decrease in quantity supplied. B. 2% decrease in price causes a 2% decrease in quantity supplied. C. 2% decrease in price causes a 1% decrease in quantity supplied. D. 1% decrease in price causes a 2% decrease in quantity supplied.
Assuming all else equal, if the labor demand curve shifts to the left and the labor supply curve remains unchanged, ________
A) equilibrium wage falls B) consumption falls C) unemployment rises D) equilibrium wage rises
In the economy of Euphoria, 400 people have jobs, 200 people are not working but are searching for work, and 100 people don't work and don't seek work. The unemployment rate is
A) 20 percent. B) 25 percent. C) 33 percent. D) 50 percent. E) none of the above.
As more women entered the labor force in the 1980s in the United States:
a. the number of unskilled workers increased. b. the average quality of the labor force improved. c. the quantity of output decreased. d. the supply of skilled labor exceeded its demand. e. labor productivity increased.