Of the 500,000 people (age 16+) in a particular country, 300,000 people are in the labor force. Of these, 240,000 are employed and 60,000 are unemployed. Of the 200,000 workers not in the labor force, 20,000 want jobs but have given up looking for one. What is the unemployment rate if discouraged workers (i.e., the hidden unemployed) are counted as being unemployed?
A. 48%
B. 25%
C. 10%
D. 60%
E. 20%
Answer: B
You might also like to view...
If the price of peaches, a substitute for plums, increases the demand for plums will decrease
Indicate whether the statement is true or false
Which of the following is true of exchange?
a. Exchange is a zero sum activity; if one party to an exchange gains, the other must lose an equal amount. b. The exchange value of a good is determined by the cost of the resources required to produce the good. c. The total output trading partners are able to produce is not influenced by whether the partners trade with each other. d. Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage.
Other things the same, if the U.S. price level rises, then
a. the supply of dollars in the market for foreign-currency exchange increases, and net exports fall. b. the supply of dollars in the market for foreign-currency exchange increases, and net exports rise. c. the supply of dollars in the market for foreign-currency exchange decreases, and net exports fall. d. the supply of dollars in the market for foreign-currency exchange decreases, and net exports rise.
The economy's normal, long-run growth rate is shown in the AD-AS model as:
A. the upward-sloping SRAS curve. B. the vertical LRAS curve. C. the vertical SRAS curve. D. the horizontal LRAS curve.