The U.S. Department of Labor classifies all individuals in the United States as
A) either overemployed or underemployed.
B) labor force participants.
C) either employed, unemployed, or not in the labor force.
D) potential employees.
C
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An increase in the supply of a good will cause
a. a decrease in equilibrium price and an increase in equilibrium quantity. b. an increase in equilibrium price and quantity. c. an increase in equilibrium price and a decrease in equilibrium quantity. d. a decrease in equilibrium price and quantity.
Country A specializes in the production of automobiles and 45% of its population works in the automobile manufacturing industry. A sharp increase in world prices for automobiles led to a boom in the automobile manufacturing industry in Country A
However, the automobile manufacturers overestimated the demand for automobiles. This led to overproduction which resulted in a large stock of unsold cars. Which of the following is likely to happen in the near future? A) Investment in Country A will increase. B) The supply of credit in Country A will increase. C) Household consumption in Country A will increase. D) The unemployment rate in Country A will increase.