Which of the following is false?
a. The unemployment rate is the number of people officially unemployed divided by the civilian labor force.
b. The labor force includes those people over the age of 14 who are either employed or unemployed
c. Discouraged workers, who have not actively sought work for four weeks are not counted as unemployed; instead they fall out of the labor force.
d. Some people working overtime or extra jobs might be considered to be overemployed.
b
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Even though it may seem that nations have a wide variety of policy options to stabilize their economies, there are a number of issues to be considered and overcome. Which of the following is NOT an issue confronting policy makers?
A) the desire to maintain fixed exchange rates or membership in a pegged currency bloc B) long and uncertain time lags when policy effects will occur C) the pass-through issue, when little effect occurs on the real effective exchange rate D) international controls that limit the ability of any nation to determine its exchange rate policy
The time it takes for the Fed or government policymakers to enact policies to correct unemployment or inflation problems is a source of which lag?
A) the implementation lag B) the recognition lag C) the government lag D) the impact lag