The Bureau of Labor Statistics does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labor force participation rate would change
What will be an ideal response?
Both the unemployment rate and the labor force participation rate would increase. The number of unemployed would rise, as would the labor force. The unemployment rate would rise because adding the same number to the numerator and the denominator of a fraction that is less than one increases the value of the fraction. The labor force participation rate would rise because the labor force increases with no change in the working-age population.
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To maximize sales revenue, an oligopoly will expand output until the price is zero
a. True b. False Indicate whether the statement is true or false
Successful monetary policy relies most on:
A. knowledgeable citizens who know how to react to the policy. B. luck. C. the institutional environment. D. having an ample supply of highly qualified people.