If the population of the United States is 260 million, the labor force is 130 million, and 120 million workers are employed, the rate of unemployment is
A. 7.7%
B. 8.3%
C. 3.85%
D. 53.9%
Ans: A. 7.7%
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If MPL = 3, and MRTS = -4 what is MPK?
A) 12 B) -12 C) 3/4 D) -3/4
A price ceiling will be binding only if it is set a. equal to the equilibrium price
b. above the equilibrium price. c. below the equilibrium price. d. either above or below the equilibrium price.
The lower the discount rate relative to the federal funds rate, the more likely a commercial bank will borrow from
A) another commercial bank instead of the Fed. B) the Fed instead of another commercial bank. C) the U.S. Treasury instead of either the Fed or another commercial bank. D) the public.
In the second quarter of 1995, the following values were observed: real GDP = 4,359.3 billion; GDP deflator = 325.1; and M1 = 989.5. What is the value of velocity?
A. 32.51 B. 24.31 C. 14.32 D. 2.31