Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. How many people are unemployed?

In the short run, if average product is at its maximum, then average variable cost is at its minimum

Indicate whether the statement is true or false

A Japanese bank buys U.S. government bonds, this purchase

a. increases U.S. net capital outflow and has no affect on Japanese net capital outflow. b. increases U.S. net capital outflow and increases Japanese net capital outflow. c. increases U.S. net capital outflow, but decreases Japanese net capital outflow. d. decreases U.S. net capital outflow, but increases Japanese net capital outflow.