In a small country, the adult population equals 10,000. There are 3,000 people unemployed and 4,000 people are employed. The labor force participation rate equals
A) 70 percent.
B) 57 percent.
C) 40 percent.
D) an undetermined amount given the lack of information.
A
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Explain how the market for opticians is affected as a result of the development of laser technology which reduces the demand for glasses and contact lenses
In your explanation be sure to show the connection between the market for glasses and contact lenses and the market for opticians.
In order to import German goods into the United States, U.S. importers must buy those goods with German currency, i.e., Euros. Assume, all else constant, there is a decrease in the price of U.S.-made cars compared to the price of German cars
Based on this information, we can conclude, with certainty, that in the market for Euros (where the price of Euros is measured in dollars), this would cause: A) an increase in the equilibrium price of Euros. B) a decrease in the equilibrium price of Euros. C) an increase in the equilibrium quantity of Euros. D) a decrease in the equilibrium quantity of Euros.
Wealth creating transactions are less likely to occur
a. Without private property rights b. Without contract enforcement c. Both a and b d. None of the above