What does the unemployment rate represent?
(A) The percentage of the total population that is not employed.
(B) The total number of people who are unable to find work.
(C) The total number of people who are not employed.
(D) The percentage of the total labor force that is unemployed.
Ans: (D) The percentage of the total labor force that is unemployed.
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The reason we are willing to accept money with no intrinsic value is that
A) the money supply is backed by an equal amount of gold and silver. B) we have a fiduciary monetary system in which currency has both acceptability and predictability of value. C) the value of the money varies directly with changes in the price level. D) paper currency may be exchanged for full-bodied money.
If the labor force grows faster than the number employed, the
a. unemployment rate will fall. b. unemployment rate will rise. c. labor force rate will rise. d. employment rate will rise.