What is the unemployment rate if there are 150 million people employed, 25 million people unemployed, and 25 million not in the labor force?

Complete Milton Friedman's famous statement, "Inflation is always and everywhere a ________ phenomenon."

A) recessionary B) discretionary C) repressionary D) monetary

(Requires Appendix material) The following are examples of limited dependent variables, with the exception of

A) binary dependent variable. B) log-log specification. C) truncated regression model. D) discrete choice model.