Suppose the working-age population of a fictional economy falls into the following categories: 30 are retired; 45 are stay-at-home parents; 120 are employed full time; 40 are employed part time; 25 are unemployed but are actively looking for
employment; 15 are unemployed and are not actively looking for employment. The official unemployment rate as calculated by the BLS would be A) 9.62%.
B) 13.51%.
C) 14.55%.
D) 20.0%.
B
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An official measure of money in the United States is M1, which includes the sum of
A) checkable deposits plus small time deposits. B) currency plus checkable deposits. C) currency plus credit card transactions. D) currency plus traveler's checks plus time deposits. E) currency plus traveler's checks plus checkable deposits plus small time deposits plus money market funds and other deposits.
If Ming is willing to pay $75 to attend the Broadway production of The Lion King but actually pays $40, she receives a consumer surplus of $35
a. True b. False Indicate whether the statement is true or false