Suppose a country has 1 billion people. 75 percent of its citizens are in the labor force, with 90 million unemployed. Full employment occurs at 2 percent. Based on this information, what is the unemployment rate?
A. 8.3 percent.
B. 12.0 percent.
C. 25.0 percent.
D. 9.0 percent.
Answer: B
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If the Fed were to increase the discount rate so that it was much higher than the federal funds rate, eventually
A) reserves would decrease and the money supply would decrease. B) reserves would increase and the money supply would increase. C) reserves would decrease and the money supply would increase. D) reserves would increase and the money supply would decrease. E) there is no impact on reserves or the money supply.
Graph I below shows E.T.'s equilibrium choices of beer and candy for three different prices of beer. (I1, I2, and I3 are indifference curves. The price of a package of candy is constant at $1.00.) Letting PC represent the price of beer, which demand curve (d) above is consistent with graph I?
A. Graph A
B. Graph B
C. Graph C
D. Graph D
The competition that American businesses have faced in recent years from global competition has:
A. Resulted in government subsidies of many businesses so they can maintain their market share B. Reduced the use of new technology as more production goes to foreign businesses C. Led firms to adopt restrictive work rules and production practices D. Forced firms to become more efficient or go out of business
Which of the following situations describing a resource allocation method most resembles the market price method?
A) Food from the Weld County Food Bank is distributed to families in need. B) Lattes are sold at Starbucks. C) Jose works at Intel. His manager tells him what work needs to be completed each month. D) Matt's mother had the rule that whoever cuts the cake chooses their slice last. E) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.