Economics_Ch11

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Unformatted text preview: Did prices rise or fall between year 1 and year 2? unemployment rate is 10 percent. Exhibit R-14 in the Databank at the back of the book shows the unemployment rate in the United States in each year during the period 1980–2005. The employment rate is the percentage of the noninstitutional adult civilian population that is employed. It is equal to the number of persons employed divided by the number of persons in the noninstitutional adult civilian population: unemployment rate The percentage of the civilian labor force that is unemployed. employment rate The percentage of the noninstitutional adult civilian population that is employed. Employment rate Employed persons/ Noninstitutional adult civilian population 3. The noninstitutional adult civilian population is 120 million, the number of unemployed persons is 5 million, and the number of employed persons is 60 million. What is the unemployment rate? Critical Thinking 4. What can cause the equilibrium price level to rise? What can cause the equilibrium quanti...
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This document was uploaded on 01/16/2014.

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