The employment rate is
A. one minus the unemployment rate.
B. one plus the unemployment rate.
C. the difference between the number of people in the labor force and the number of people unemployed.
D. the ratio of the labor force to the number of people employed.
Answer: A
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Measuring the impact of a quota or tariff on the U.S. economy is an example of ________. Stating that a quota or tariff should be eliminated is an example of ________
A) econometric analysis; protectionism B) positive analysis; normative analysis C) statistical analysis; economic analysis D) trade analysis; an opinion
The principal cause of falling unemployment is ________
A) an increase in net entrants to the labor force B) a decrease in net entrants to the labor force C) an increase in the number of new jobs created D) a decrease in the number of jobs lost
In general, why are trade sanctions implemented?
A. To lower domestic unemployment rates B. To benefit emerging industries C. For political reasons D. To raise revenue from trade
The marginal physical product (MPP) is calculated by
A. dividing total physical product by labor. B. dividing the change in total physical product by the change in the input. C. the difference between the output of skilled and unskilled workers. D. dividing the change in total cost by the change in labor.