U-1 is a more ________ measure of unemployment rate than the conventional U-3 measure and U-1 counts as unemployed workers who ________
A) narrow; have been unemployed for 15 weeks or more weeks
B) broad; have been laid off
C) broad; are marginally attached to the labor force
D) narrow; have been laid off
E) broad; who are discouraged workers
A
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According to Ricardo, a country will have a comparative advantage in the product in which its
A) labor productivity is relatively low. B) labor productivity is relatively high. C) labor mobility is relatively low. D) labor mobility is relatively high. E) labor is outsourced to neighboring countries.
Assume Jean-Claude purchased real estate for $500,000 using $50,000 of which is his own money and $450,000 which he borrowed at an 8% interest rate. If the value increased by 10% in one year and he sold the property, what was Joe's rate of return on his investment? If the value of the property had declined by 2%, what would have been the rate of return on his investment?
A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40 . In addition, suppose the family could afford a total of 8 nights in a hotel if they don't buy any meals. How many meals could the family afford if they gave up two nights in the hotel?
a. 1 b. 2 c. 5 d. 8
Which of the following correctly identifies a limitation of logarithmic transformation of variables?
A. Taking log of variables make OLS estimates more sensitive to extreme values in comparison to variables taken in level. B. Logarithmic transformations cannot be used if a variable takes on zero or negative values. C. Logarithmic transformations of variables are likely to lead to heteroskedasticity. D. Taking log of a variable often expands its range which can cause inefficient estimates.