If the number of people classified as unemployed is 20,000 and the number of people classified as employed is 620,000, what is the unemployment rate?
A. 1.6%
B. 3.1%
C. 10.6%
D. 632%
Answer: B
Economics
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If consumption is greater than income, saving must be negative.
a. true b. false
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Refer to Figure 13-3. Suppose the economy is at point A. If government spending increases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
Economics
For a perfectly competitive firm, marginal revenue product is equal to:
a. price minus marginal cost. b. price times marginal revenue. c. price times marginal product. d. none of these.
Economics
Which of the following is not a responsibility of the Federal Reserve?
a. Controlling the money supply b. Printing paper currency c. Supervising banks d. Acting as a bank for banks (e.g., lender of last resort) e. Clearing checks
Economics