Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. What's the unemployment rate?
A) 20 percent
B) 25 percent
C) 33 percent
D) 40 percent
E) 60 percent
B
Economics
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What assumptions are made to create a model to determine short-run changes in exchange rates using the asset approach?
a. Prices are completely flexible. b. In the long run, money is neutral. c. Prices are sticky, yet nominal interest rates are flexible. d. Prices and nominal interest rates are sticky.
Economics
What area on a supply and demand graph represents producer surplus?
What will be an ideal response?
Economics