The unemployment rate measures the:
a. percentage of the labor force who are not working but looking for work.
b. percentage of the labor force who have failed to find work in the last 2 months.
c. percentage of working adults lacking proper technical skills.
d. percentage of the labor force incapable of productive work.
a
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The principal-agent problem arises because of
a. natural selection b. diminishing marginal returns c. hidden actions d. the winner's curse e. hidden characteristics
When the money market is drawn with the value of money on the vertical axis, if the price level is above the equilibrium level, there is an
a. excess demand for money, so the price level will rise. b. excess demand for money, so the price level will fall. c. excess supply of money, so the price level will rise. d. excess supply of money, so the price level will fall.