Suppose the population of Timmy Town is 1000 people and the working-age population is 800. If 200 of these people are unemployed, the unemployment rate in Timmy Town is
A) 1/4 × 100.
B) 1/5 × 100.
C) 1/8 × 100.
D) 2 percent.
E) There is not enough information provided to calculate the unemployment rate.
E
You might also like to view...
The currency created by the European Monetary Union, for which notes and coins became available in 2002, is the
A) ECU. B) euro. C) EMU. D) pound.
Which of these is not assumed to be constant along a short-run aggregate supply curve?
a. The actual price level b. The state of technology c. The size and quality of the labor force d. The expected price level e. The size and quality of the capital stock
The laws of contracts and their enforceability in court determine the range of transactions that we will find it worthwhile to undertake
Indicate whether the statement is true or false
If the real interest rate were -7%, this is:
a. A clear sign that it is better to borrow than to lend. b. Not clear sign that it is better to borrow than to lend because this decision depends on expected inflation. c. Actually, it is impossible for the real interest rate to be -7% because the real interest rate can approach zero, but it can never be less than zero. d. A clear sign that it is better to lend than to borrow.