�建 Microsoft Word �档

�建 Microsoft Word �档 - CHAPTER 6 Use...

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CHAPTER 6 Use the following information to answer questions 1-2. Suppose the labor force of a country consists of 1 million people, of whom 800,000 are employed, and the full-employment level occurs at a 5 percent unemployment rate. 1. Based on the information above, what is the unemployment rate? A) 5 percent. B) 15 percent. C) 20 percent. D) 80 percent. 2. Based on the information above, how many more members of the labor force must find jobs for the economy to achieve full employment? A) 200,000. B) 150,000 C) 100,000. D) 50,000. Use the following information to answer questions 3-5. Suppose the population of a country is 1.4 million and the labor force is 1 million, 900,000 of whom are employed. Assume the full- employment level occurs at a 5 percent unemployment rate at a real GDP of $100 billion. 3. Based on the information above, how many more members of the labor force must find jobs for the economy to achieve full employment? A) 50,000.
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This note was uploaded on 04/11/2011 for the course ECO 2251 taught by Professor Kirkland during the Spring '09 term at Troy.

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�建 Microsoft Word �档 - CHAPTER 6 Use...

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