To calculate the unemployment rate, which of the following are necessary pieces of information?
I. the number of unemployed persons
II. the population
III. the number of people in the labor force
IV. the working age population
A) I, II III and IV
B) I and II
C) I and III
D) I and IV
C
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If the government provides a subsidy to producers, what is the effect of this policy in a supply and demand diagram?
A) The demand curve shifts leftward and the price rises. B) The supply curve shifts rightward and the price falls. C) The supply curve shifts leftward and the price falls. D) The supply curve shifts leftward and the price rises. E) The demand curve shifts rightward and the price rises.
According to the Keynesian model, an economy will have persistent, high unemployment if:
A. the government runs a budget deficit. B. markets operate freely. C. its total spending is too low. D. firms make too many investments.