The number of people unemployed and employed equals the
A. participation rate.
B. labor force.
C. employment rate.
D. working-age population.
Answer: B
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Assume that the currency—deposit ratio is 0.5. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action increased the money supply by $2 million. What is the reserve—deposit ratio?
A) 0.25 B) 0.35 C) 0.40 D) 0.50
Suppose milk and cereal are compliments and the demand for milk is Qdm = 40 - 6Pm - 2Pc, where Qdm stands for millions of gallons of milk demanded, Pm stands for the price of milk and Pc stands for the price of cereal. The supply of milk is Qsm = 6Pm - 8, where Qsm stands for millions of gallons of milk supplied. The demand and supply of cereal are Qdc = 90 - 5Pc - Pm and Qsc = 5Pc - 10, respectively, where Qdc stands for millions of boxes of cereal demanded and Qsc stands for millions of boxes of cereal supplied. Suppose the government imposes a $2.00 per gallon tax on milk. The new general equilibrium price of milk is:
A. $2.37. B. $4.37. C. $0.37. D. $3.39.
If the CPI is 150, the value of the dollar now compared to in the base period is
a. $1.50. b. $1. c. $0.67. d. $0.50.
Which of these are exhaustible resources?
a) Building airport computers b) oil and coal