If the number of unemployed workers in an economy is 4 million, and the size of the labor force in the economy is 16 million, the unemployment rate in the economy is:

If the quantity of credit supplied in a market exceeds the quantity of credit demanded in the market:

A) the unemployment rate tends to rise. B) the real rate of interest tends to rise. C) the rate of inflation tends to fall. D) the real rate of interest tends to fall.

Which of the following statements regarding the marginal product curve is FALSE?

A) Increasing marginal returns occur only when the total product increases as the number of workers increases. B) Increasing marginal returns is due to greater efficiency from specialization in the production process. C) The law of diminishing returns applies in the short run. D) Along the marginal product curve, increasing marginal returns occur first and then diminishing marginal returns.