If you hear that unemployment increased by 2 percentage points to 4 %in the past year, while the labor force participation rate and the population remained constant, it means:
A. twice as many people are without work than was the case a year ago.
B. unemployment doubled in the past year.
C. there was a 100 percent increase in unemployment.
D. All of these are true.
Answer: D
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Refer to Figure 15-12. In the dynamic AD-AS model, the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues policy. This will result in
A) potential real GDP levels lower than what would occur if no policy had been pursued. B) inflation rates higher than what would occur if no policy had been pursued. C) real GDP levels higher than what would occur if no policy had been pursued. D) unemployment rates higher than what would occur if no policy had been pursued.
If average Americans start to pay off the huge credit card debt they now hold, then
A) a shift in the supply of loanable funds will cause interest rates to rise. B) a shift in the supply of loanable funds will cause interest rates to fall. C) a shift in the demand for loanable funds will cause interest rates to rise. D) a shift in the demand for loanable funds will cause interest rates to fall. E) there will be an excess demand for loanable funds.
Technically speaking, a monopolist's share of industry demand is _________ to make it qualify as a monopoly
a. 100 percent b. 50 percent or more c. 25 percent or more d. 0 percent e. there is no specific percentage
The functioning of a market economy is very dependent upon investment for provision of capital and future growth. Describe the process of investment and employment of the created capital in production