The employment-to-population ratio equals
A) (labor force)/(working-age population) × 100.
B) (number of people employed)/(labor force) × 100.
C) (number of people with full-time jobs)/(labor force) × 100.
D) (number of people employed)/(working-age population) × 100.
D
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Markets promote
A) competition and voluntary exchange. B) equity and competition. C) equity and equality. D) voluntary exchange and equality.
Darlene runs a fruit and vegetable stand in a medium-sized community where there are many such stands. Her weekly total revenue equals $3,500 . Her weekly total cost of running the stand equals $3,500, consisting of $2,500 of variable costs and $1,000 of fixed costs. An economist would likely advise Darlene to: a. shut down as quickly as possible because the stand is generating losses
b. keep the stand open because it is generating a normal profit. c. keep the stand open for a while longer because she is covering all of her variable costs and some of her fixed costs. d. keep the stand open for a while longer because she is covering all of her fixed costs and some of her variable costs.
When individuals are unemployed because they lack the qualifications to fill available jobs, this is called
a. frictional unemployment. b. natural unemployment. c. cyclical unemployment. d. structural unemployment.
To prevent monetary policy from becoming highly politicized, many countries have:
A. Made their central banks be politically independent B. Put their central banks under the full control of their law-making agencies C. Allowed the heads of their central banks to serve for very short terms D. Made elected officials be the heads of their central banks