Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 40 people employed; 50 people not in the labor force. What's the unemployment rate?
A) 10 percent
B) 15 percent
C) 20 percent
D) 40 percent
E) 50 percent
C
You might also like to view...
In general, individuals and nations should specialize in producing those goods for which they have a(n):
A. absolute advantage. B. absolutely comparative advantage. C. absolute advantage and a comparative advantage. D. comparative advantage.
If a perfectly competitive firm is maximizing its profit and is making an economic profit, which of the following is correct?
i. Price equals marginal revenue. ii. Marginal revenue equals marginal cost. iii. Price is greater than average total cost. A) i only B) i and ii only C) ii and iii only D) i and iii only E) i, ii, and iii
If an economy produces only steel and wheat, a new fertilizer will
A) cause the production of wheat to increase at every point on a production possibilities curve but not affect the production of steel, that is the curve moves outward on the wheat axis only. B) cause the production of both wheat and steel to increase at every point along the production possibilities curve, that is the curve moves outward on both the wheat axis and the steel axis. C) not affect the production of either wheat or steel. D) cause the production of steel to increase at every point along the production possibilities curve but not affect the production of wheat, that is the curve moves outward on the steel axis only.
What balances in balance of payment calculations?
A. the capital and current accounts B. exports and imports C. exports and short-term income balances D. exports minus imports (plus a statistical discrepancy) with short-term income movements