In 2016 the Bureau of Labor Statistics reported that there were 57.1 million people over age 25 whose highest level of education was some college or an associate degree. Of these, 36.4 million were employed and 1.5 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
a. 66.4% and 2.6%
b. 66.4% and 4.0%
c. 63.7% and 2.6%
d. 63.7% and 4.0%
b
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In monopolistic competition, a firm can set the price for its product because of
A) easy entry and exit. B) economic profits. C) product differentiation. D) many competitors. E) the firm's upward sloping demand curve.
In the spot foreign exchange market,
A) only dollars, yen, and pounds may be traded. B) only dollars and yen may be traded. C) currencies or bank deposits are exchanged immediately. D) currencies or bank deposits are exchanged at a fixed date (or spot) in the future.
The amount of unemployment that arises because workers are temporarily between jobs or new entrants to the labor force is known as
a. structural unemployment. b. cyclical unemployment. c. frictional unemployment. d. induced unemployment.
Which of the following changes would clearly decrease the supply of money in the banking system?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves d. a decrease in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves