If the numbers of people officially employed and officially unemployed each increased by 10%, while the non-institutional population increased by 15%, what would be the effect?
a. an increase in the unemployment rate and an increase in the labor force participation rate
b. an increase in the unemployment rate and a decrease in the labor force participation rate
c. No change in the unemployment rate and an increase in the labor force participation rate
d. No change in the unemployment rate and a decrease in the labor force participation rate
d
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For a natural monopoly, the marginal cost of producing an additional unit of its product is relatively small
Indicate whether the statement is true or false
Which of the following is not a reason for changes in exchange rates
a. purchasing power parity b. strong economic growth c. the gold standard d. speculation
For economists, the word "utility" means:
A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness.
In 2005, chief executive officers (CEOs) pay at U.S. firms with around $500 million in annual sales averaged:
A. $600 thousand. B. $1.2 million. C. $2.2 million. D. $4.5 million.