The total labor force is 100,000 out of a possible working age population of 160,000. The total number of unemployed is 8,000. What is the unemployment rate?

If textbook prices rise by 5% this year, and textbook purchases fall by 5% this year, then the price elasticity of demand is:

A) .05. B) .10. C) .55. D) .95. E) 1.0.

When the wage increases, the substitution effect in the household's choices leads to

A) a decrease in consumption and leisure. B) a decrease in consumption and an increase in leisure. C) an increase in consumption and a decrease in leisure. D) an increase in consumption and leisure.