Data for an economy shows that the unemployment rate is 10 percent, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy?
A. 800 billion
B. 720 million
C. 180 million
D. 18 million
Answer: B
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For an individual, opportunity costs
a. decrease as consumption increases. b. include only the monetary costs of goods and services. c. reflect resource scarcity. d. reflect the fact that wants are unlimited. e. reflect the fundamental assumption that "more is better."
Based upon the equation of exchange, which of the following (ceteris paribus) is most likely to bring about inflation?
A) An increase in the money supply. B) A decrease in velocity. C) An increase in Real GDP. D) a and b E) a and c
The planned investment function will shift upward if
A. the interest rate rises. B. business expectations become more optimistic. C. the existing stock of capital falls. D. real disposable income decreases.
If the value of your baseball card collection increases during a year, it would count as income under which of the following definitions of income?
a. The Fisher definition of income. b. The Haig-Simons definition of income. c. The Laffer definition of income. d. The imputed collectible return definition of income