The population of Tiny Town is 100 people and the labor force is made up of 75 people. If 5 of these people are unemployed, the unemployment rate is
A) 5/100 × 100.
B) 5/80 × 100.
C) 5/75 × 100.
D) There is not enough information provided to calculate the unemployment rate.
C
Economics
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What is measured on the horizontal axis on the aggregate demand graph?
A) nominal income B) real GDP per year C) unemployment D) the price level
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When the market clearing price of gasoline after a hurricane spikes to $6.00 but legislators enact "anti-gouging" legislation that keeps prices at $4,
A) consumers as a whole will tend to benefit. B) producers will have less incentive to bring gasoline to the areas where gasoline is most highly valued. C) government will ensure that no shortages will develo
Economics