The labor force participation rate is calculated as:
A) (number of unemployed) ÷ (labor force).
B) (number of employed) ÷ (adult population).
C) (number of employed + number of unemployed) ÷ (labor force).
D) (labor force) ÷ (adult population).
D
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Suppose the annual growth rate of real GDP for the nation of Vicuna is 8%, the growth rate of velocity is 0%, and the growth rate of the money supply is 12%
a. What is the current rate of inflation? b. What will happen to the inflation rate if the growth of the money supply increases to 16%? c. What will happen to the inflation rate if the growth of the money supply increases to 16%, and at the same time, the growth rate of velocity increases to 4%?
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower