What is the unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed?
a. 20.2 %
b. 16.8%
c. 14.4%
d. 11%
c. 14.4%
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Figure 3-7
What is the opportunity cost of moving from point B to point A in Figure 3-7?
A. 20 units of X B. 50 units of X C. 25 units of X D. 75 units of X
Use the following table showing the consumption schedule for an economy to answer the next question. All figures are in billions of dollars.RGDPConsumption$440$450490490540530590570640610Given a level of investment and government expenditures totaling $30 billion, zero net exports, and a lump-sum tax of $30 billion, a reduction of government expenditures of $20 billion at each level of real GDP will result in an equilibrium real GDP of
A. $490 billion. B. $590 billion. C. $640 billion. D. $540 billion.
The table above gives the utility from pens and pencils. If pens and pencils both cost $.25 each and the consumer has an income of $2.25, which of the following combinations maximizes the consumer's utility?
A) 3 pens and 6 pencils B) 4 pens and 5 pencils C) 5 pens and 4 pencils D) 6 pens and 3 pencils
Friedman's theory of money demand differs from Keynes' in that
a. Friedman assumes that the demand for money is highly elastic while Keynes assumes money demand is inelastic. b. Friedman assumes that the money demand function is highly stable while Keynes assumes it is unstable. c. Friedman assumes that there is only a speculative demand for money while Keynes also considers the precautionary and transactionary demands for money. d. Friedman assumes that the proportion of income held in the form of money is constant while Keynes believes it varies. e. both b and d.