In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The unemployment rate of the economy is equal to:
a. U/(E + NLF)

The perpetual problem in economics is:

a. our inability to work together effectively. b. our inability to satisfy everyone's wants with the available resources. c. a recognition of continual class differences. d. our inability to utilize resources efficiently. e. likely to be solved in resource-rich countries.

The demand curve for labor shows what?

a. The demand for labor is immune to wage pressures. b. There is a negative relationship between wage and quantity. c. The supply of labor is higher at higher wage levels. d. There is a positive relationship between wage and quality.