Data for an economy shows that the unemployment rate is 10 percent, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?
A. 800 million
B. 250 million
C. 1.6 billion
D. 1.0 billion
Answer: D
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Explain whether the statement, "Hillary Clinton was elected President of the United States in 2008," is a normative or positive statement
What will be an ideal response?
Complements are characterized by:
A. negative cross-price elasticity of demand. B. positive cross-price elasticity of demand. C. cross-price elasticity of demand equal to zero. D. cross price elasticity of demand equal to -1.
A good economic theory or model weeds out unimportant facts from important ones. This process is called ______.
a. abstraction b. reflection c. correlation d. specialization
Assume the economy is at full employment and that investment spending declines dramatically. If the goal is to restore full employment, government fiscal policy should be directed toward:
A. an equality of tax receipts and government expenditures. B. an excess of tax receipts over government expenditures. C. an excess of government expenditures over tax receipts. D. a reduction of subsidies and transfer payments and an increase in tax rates.