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Unformatted text preview: The unemployment rate is A) the number B) unemployed divided by the labor force. the number C) unemployed divided by the number employed. the number D) unemployed divided by the population. the difference between the population and the number employed divided by the population. Answer: A Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Definition 9) If a country has a population of 400 million, 160 million people employed and 40 million people looking for work, then its unemployment rate is A) 10%. B) 20%. C) 25%. D) 40%. Answer: B Diff: 2 Topic: The Labor Market: Basic Concepts Skill: Analytic AACSB: Analytic Skills 10) Employm ent tends to rise when A) aggregate B) output falls. unemployment rises. C) aggregate D) output rises. labor productivity falls. Answer: C Diff: 2 Topic: The Labor Market: Basic Concepts Skill: Conceptual AACSB: Reflective Thinking 2 Tr ue /F al 1) s e If a member is not in the labor force, it is because he or she has decided his or her time is more valuable in household nonmarket activities. Answer: TRUE Diff: 1 Topic: The Labor Market: Basic Conce...
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This note was uploaded on 06/02/2013 for the course ECON 130 taught by Professor Meshew during the Fall '13 term at Victoria Wellington.
- Fall '13