Jack was unemployed two weeks ago but just started a new job. As a result of this increase in the number of employed workers, which of the following occurred?
A) The labor force participation rate increased. B) The unemployment rate decreased.
C) The unemployment rate increased. D) The labor force participation rate decreased.
B
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A basic assumption used in many economic model is
A) as price goes up, the amount purchased will go up too. B) as price goes up, less will be offered for sale on the market. C) if the underlying theory doesn't represent reality, it is not useful. D) ceteris paribus, which means all other things remain unchanged.
Approximately ________ people live in the United States and ________ people live in the world
A) 210 million; 5 billion B) 310 million; 7 billion C) 210 million; 6 billion D) 410 million; 8 billion E) 310 million; 3 billion
An increase in the price level leads to
A) an upward movement along the aggregate supply curve. B) a downward movement along the aggregate supply curve. C) a leftward shift of the aggregate supply curve. D) a rightward shift of the aggregate supply curve. E) neither a movement along the aggregate supply curve nor a shift of the aggregate supply curve.
When the Environmental Protection Agency (EPA) assigns one emission standard to a particular group of plants, this is called
a. monopoly b. positive externalities c. a pollution compensation tax d. the bubble concept e. a municipal ordinance