The percentage of the working-age population in the labor force (= employed + officially unemployed) is called the:
A. labor force participation rate.
B. employment-population ratio.
C. work-activity rate.
D. work-nonwork ratio.
A. labor force participation rate.
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Refer to Figure 13-13. What is the profit maximizing output level?
A) Q1 units B) Q2 units C) Q3 units D) Q4 units
Over the long run, per capita incomes in different regions of the United States have
a. gradually diverged with the Northeastern region leading all other income groups. b. gradually converged. c. gradually converged until roughly 1985, and then diverged as the Western states outpaced other regions. d. have converged, with the exception of the South.
According to the classical view, the economy will not self-adjust to deviations from its long-term growth trend.
Answer the following statement true (T) or false (F)
Which of the following is the most liquid form of asset?
a. Small time deposits b. Large time deposits c. Savings accounts d. Money market mutual fund (MMMF) balances e. Travelers' checks