Suppose you live in a community of 100 people where everyone who is able to do so seeks work
If 80 people are over 16 years old and 72 of them are employed, what is the unemployment rate in this community?
In this community, only 80 people qualify as part of the labor force. Since 72 of them are working, 8 must be currently unemployed. The unemployment rate is therefore 10 percent.
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In a fractional-reserve banking system the reserve/deposit ratio equals:
A. 100 percent. B. more than 100 percent. C. less than 100 percent. D. currency held by the public divided by deposits.
Privately-owned firms that accept deposits from individuals and businesses and use those deposits to make loans are called:
A. mortgage banks. B. brokerage firms. C. investment banks. D. commercial banks.
Adding value means
A) to make products that have positive prices. B) that the value of a firms output is greater than the value of the output that was not produced by the inputs the firm employs. C) that the firm has a positive economic profit. D) that economic profit is zero.
What percentage of federal spending was financed by borrowing during 2009-2010?
a. approximately 10 percent b. approximately 20 percent c. approximately 40 percent d. more than 50 percent