The unemployment rate equals
a. (number of people without a job ÷ population)× 100.
b. (number of people unemployed ÷ population) × 100.
c. [(working-age population - number of people employed) ÷ labor force] × 100.
d. (number of people without a job ÷ working-age population) × 100.
e. (number of people unemployed ÷ labor force) × 100.
e
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Typically the largest component of the narrowly-defined money stock in the United States, known officially as M1, is
A) commercial bank reserves. B) currency in commercial bank vaults or the hands of the public. C) demand deposits and savings deposits in commercial banks. D) checking account deposits. E) gold, silver, coins, and paper currency.
When dealing with externalities, how can we correct market failure?
a) In the case of negative externalities, the market can correct it, but in the case of positive externalities, government regulation is necessary. b) In the case of positive externalities, the market can correct it, but in the case of negative externalities, government regulation is necessary. c) In the case of both positive and negative externalities, market can correct all market failures. d) In the case of both positive and negative externalities, government regulation is necessary to induce market participants to internalize the externality.
Which of the following is part of the U.S. economy's safety net?
A. Church-affiliated soup kitchens B. National Sisters of the Poor Welfare Agency C. Social Security D. Blue Cross and Blue Shield
Total surplus is equal to
a. value to buyers - profit to sellers. b. value to buyers - cost to sellers. c. consumer surplus x producer surplus. d. (consumer surplus + producer surplus) x equilibrium quantity.