A person who is not working and who has looked for work in the past, but is not looking for work now is not considered "unemployed."
Indicate whether the statement is true or false
TRUE
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The labor force participation rate equals the
A) (labor force divided by the number of people not in the labor force) × 100. B) (number of employed divided by the labor force) × 100. C) (labor force divided by working-age population) × 100. D) (labor force divided by the total population) × 100.
If the exchange rate changes from $0.08 = 1 mexican peso to $0.09 = 1 mexican peso, then
A) the peso has depreciated and the dollar has appreciated. B) both the peso and dollar have appreciated. C) both the peso and dollar have depreciated. D) the peso has appreciated and the dollar has depreciated.
Which of the following would not cause any kind of an outward shift of a nation's production possibilities curve [PPC]?
a. An improvement in the general level of education b. Technological innovation c. Discovery of a new source of energy d. An increase in the size of the labor force e. A flood that renders thousands of acres of farmland unusable
Consider a firm operating in a perfectly competitive market. At its current output of 200 units, marginal revenue is $25 . At this output, average total cost is decreasing and equals $22 . Given this information, what should the firm do? a. Continue to produce 200 units, because this maximizes profits
b. Increase output beyond 200 units, since a higher output will yield the profit maximizing output level. c. Decrease output below 200 units, since a lower output will result in the profit maximizing output level. d. More information is needed to determine the firm's next step.