Suppose the population (age 16 and over) of Panama is 50 million; 4 million are unemployed, and 36 million hold jobs. What are the rates of unemployment and labor force participation of Panama?
a. Unemployment is 10 percent, and labor force participation is 80 percent.
b. Unemployment is 10 percent, and labor force participation is 75 percent.
c. Unemployment is 11 percent, and labor force participation is 80 percent.
d. Unemployment is 11 percent, and labor force participation is 90 percent.
A
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In the treatment of U.S. exports and imports, national income accountants ________.
A. add both exports and imports in calculating GDP B. subtract exports but add imports in calculating GDP C. subtract both exports and imports in calculating GDP D. add exports but subtract imports in calculating GDP
A new moving van will increase a moving company's yearly revenue by $15,000 . Its useful life is three years. If the interest rate is 10 percent (0.1) per year, which of the following is the highest price the firm would be willing to pay for the van? Assume that each year's revenue is received at the end of the year. (Answers are rounded to the nearest $100.)
a. $15,000 b. $20,000 c. $37,300 d. $44,100 e. $45,000
Consider two goods--one that generates external costs and another that generates external benefits. The actual market outcome would
a. result in output that is lower than the efficient output for both goods. b. result in output that is higher than the efficient output for both goods. c. result in output that is lower than the efficient output for the good with an external benefit and output that is higher than the efficient output for the good with an external cost. d. result in output that is higher than the efficient output for the good with an external benefit and output that is lower than the efficient output for the good with an external cost.
A Macy's or Target store is an example of:
A. a conglomerate. B. an industry. C. a multiplant firm. D. a vertically integrated firm.