The proportion of the labor force that is unemployed is the
A. Unemployment rate.
B. Okun's Law.
C. Employment index.
D. Underemployed rate.
Answer: A
You might also like to view...
Your wage this year is $15 per hour and the CPI is 178. Next year you get a raise to $17 and the CPI rises to 185. What has happened?
A) Your real and nominal wages have each increased by the same percentage. B) Your real wage has increased but by a smaller percentage than your nominal wage. C) Your nominal wage has increased but your real wage has declined. D) Your nominal wage has increased but your real wage has not changed. E) Your real wage rate has increased by a larger percentage than your nominal wage.
Because resources are scarce, individuals are required to
A) make choices among alternatives. B) improve production but not distribution. C) improve distribution but not production. D) use resources inefficiently. E) sacrifice production but not consumption.