Table 20-1 Total population 20,000 Working-age population 15,000 Employment 1,000 Unemployment 100 Consider the data above for a simple economy. Refer to Table 20-1. The unemployment rate for this simple economy equals
A) (100/1,000) × 100.
B) (100/1,100) × 100.
C) (100/15,000) × 100.
D) (100/20,000) × 100.
Answer: B
You might also like to view...
A major contributor to a country's real rate of economic growth is its real GDP growth relative to its
A) inflation. B) unemployment rate. C) money growth. D) none of the above.
A technology spillover occurs when one firm's research and production increase another firm's access to technological advances
a. True b. False Indicate whether the statement is true or false
The President receives economic policy advice from economists at each of the following except
a. the Council of Economic Advisors. b. the Department of the Treasury. c. the Congressional Budget office. d. the Department of Labor.
The law of increasing costs mean that when an economy increases the production of one item-
What will be an ideal response?