Suppose the population (age 16 and over) of Peru is 400 million; 20 million are unemployed, and 230 million hold jobs. What are the rates of unemployment and labor force participation of Peru?
a. Unemployment is 8 percent, and labor force participation is 62.5 percent.
b. Unemployment is 8.7 percent, and labor force participation is 92 percent.
c. Unemployment is 8.7 percent, and labor force participation is 62.5 percent.
d. Unemployment is 5 percent, and labor force participation is 57.5 percent.
A
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a. protest; actively support b. not protest; not actively support c. not protest; actively support d. protest; not actively support e. protest; protest
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How does an unusually warm winter affect the equilibrium price and quantity of gloves?
A) It raises both the price and the quantity. B) It raises the price and decreases the quantity. C) It lowers the price and increases the quantity. D) It lowers both the price and the quantity.
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A) increase; left B) increase; right C) decrease; left D) decrease; right