Maurice loses his job and decides to sit on the beach rather than looking for work the next few months. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate is unaffected.
b. increases, and the labor-force participation rate decreases.
c. decreases, and the labor-force participation rate increases.
d. decreases, and the labor-force participation rate decreases.
B
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Suppose the exchange rate between the U.S. dollar and the Jamaican dollar was $1 U.S. = $40 Jamaican dollars. A beach towel sells for $20 in Miami and $60 Jamaican in Negril
A) Purchasing power parity does not prevail with these prices. B) The U.S. dollar would be expected to depreciate. C) The Jamaican dollar would be expected to appreciate. D) All of the above are correct.
An economy's PPC illustrates the extent to which the economy consumes what it produces
a. True b. False Indicate whether the statement is true or false
The unemployment rate:
A. is measured by the number of people who are unemployed divided by the labor force. B. measures what percentage of our labor force is currently looking for a job and can't find one. C. is never zero. D. All of these are true.
Figure 12.8 depicts an advertising game between two stores. "Advertising" is:
A. a dominant strategy for Store A but not for Store B. B. a dominant strategy for Store B but not for Store A. C. a dominant strategy for both stores. D. a dominant strategy for neither store.