If the numbers of employed and unemployed do not change but the size of the civilian population increases by 15%, what would be the effect?
a. no change in the unemployment rate and a decrease in the labor force participation rate
b. an increase in the unemployment rate and a decrease in the labor force participation rate
c. an increase in the unemployment rate and no change in the labor force participation rate
d. an increase in the unemployment rate and an increase in the labor force participation rate
a
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Refer to the scenario above. Which of the following statements is true of the terms of trade of tea for coffee?
A) The terms of trade will lie somewhere below 1/3. B) The terms of trade will lie somewhere above 2. C) The terms of trade will lie between 1/3 and 2. D) The terms of trade will equal zero.
Suppose that a German citizen crosses the border each day to work in Switzerland. Her income from this job would be counted in:
a. Swiss GNP and German GNP. b. Swiss GNP and German GDP. c. Swiss GDP and German GNP. d. Swiss GDP and German GDP.