If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployment rate would be:
A. 4 percent
B. 6 percent
C. 8 percent
D. 10 percent
C. 8 percent
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The income elasticity for most foods is positive but less than 1
Indicate whether the statement is true or false
Based on the graph showing the median voter, if candidate A took a position at VM, candidate B would have the best chance to win the election by taking a position ______.
a. as far as possible from VM
b. just to the left of V2
c. just to the right of V1
d. as near as possible to VM
If a market switches from being a perfectly competitive market to being a monopoly market, the decrease in consumer surplus is more than offset by an increase in producer profits.
Answer the following statement true (T) or false (F)
The demand curve for a monopoly firm
A) is perfectly inelastic. B) lies below its marginal revenue curve. C) is the same as the market demand curve. D) is horizontal.