Data for an economy show that the unemployment rate is 6 percent, the participation rate is 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 300 million
B. 120 million
C. 80 million
D. 200 million
Answer: A
You might also like to view...
An industry is deemed concentrated when ________
A) each firm in that industry has a small market share B) all the firms in that industry charge a price lower than the average cost of production C) most of the firms in that industry earn zero economic profits in the long run D) a few firms account for a large fraction of total sales in that industry
If the income multiplier is 2 and the equilibrium national income level is $8,000 billion, then a $500 billion decrease in aggregate expenditure will cause
a. the aggregate expenditure curve to shift to the right and national income to increase by $1,000 billion b. the aggregate expenditure curve to shift to the left and national income to decrease by $1,000 billion c. the aggregate expenditure curve to shift to the right and national income to increase by $2,000 billion d. the aggregate expenditure curve to remain unchanged but an upward movement along the curve that shows a $2,000 increase in national income e. the aggregate expenditure curve to remain unchanged but an upward movement along the curve that shows a $2,000 decrease in national income
Relative to the household? survey, which of the following is a strength of the establishment? survey?
What will be an ideal response?
What is a circular flow diagram and what does it demonstrate?
What will be an ideal response?