The number of adults not in the labor force of a country equals 6 million, and the number of individuals employed is 5 million. If there are 12 million potential adult workers in the economy, what is the current unemployment rate in this country? 45 percent 67 percent 21 percent 55 percent If the opportunity cost of working outside the home increases, then ________ the labor supply curve, assuming all else equal. there will be a left shift in there will be a right shift in there will be an upward movement along there will be a downward movement along Which of the following statements is true? Technological innovation always leads to unemployment in an economy as a whole. Technological innovation can cause wages to fall for some workers in an economy. Technological innovation increases wages for all workers in an economy. Technological innovation reduces the demand for goods and services in an economy. If the annual inflation rate in an economy is i, then $1 borrowed at the beginning of a year will have the same purchasing power as ________ dollars at the end of the year. i (1/i) (1 − i) (1 + i) If a bank borrows funds for 3 years, the borrowing will be classified as ________. long-term debt dividend payments stockholders' equity short-term borrowing Consider two banks: Bank A and Bank B. Suppose the value of liabilities of both the banks is equal. However, Bank A is solvent, while Bank B is insolvent. This would imply that ________. Bank A's assets exceed Bank B's assets Bank B's assets exceed Bank A's assets Bank A's liabilities exceed Bank A's assets Bank B's assets exceed Bank B's liabilities A researcher finds that, for an economy, the nominal GDP in the year 2015 equaled the nominal GDP in the year 2016. She also finds that the output of the economy was the same over the two years. A situation like this is possible only if ________. the annual inflation rate in the economy is negative the annual inflation rate in the economy is 0 percent the annual interest rate in the economy is negative the annual interest rate in the economy is 0 percent

The number of adults not in the labor force of a country equals 6 million, and the number of individuals employed is 5 million. If there are 12 million potential adult workers in the economy, what is the current unemployment rate in this country? 45 percent 67 percent 21 percent 55 percent If the opportunity cost of working outside the home increases, then the labor supply curve, assuming all else equal. there will be a left shift in there will be a right shift in there will be an upward movement along there will be a downward movement along Which of the following statements is true? Technological innovation always leads to unemployment in an economy as a whole. Technological innovation can cause wages to fall for some workers in an economy. Technological innovation increases wages for all workers in an economy. Technological innovation reduces the demand for goods and services in an economy. If the annual inflation rate in an economy is i, then $1 borrowed at the beginning of a year will have the same purchasing power as dollars at the end of the year. i (1/i) (1 − i) (1 + i) If a bank borrows funds for 3 years, the borrowing will be classified as . long-term debt dividend payments stockholders' equity short-term borrowing Consider two banks: Bank A and Bank B. Suppose the value of liabilities of both the banks is equal. However, Bank A is solvent, while Bank B is insolvent. This would imply that . Bank A's assets exceed Bank B's assets Bank B's assets exceed Bank A's assets Bank A's liabilities exceed Bank A's assets Bank B's assets exceed Bank B's liabilities A researcher finds that, for an economy, the nominal GDP in the year 2015 equaled the nominal GDP in the year 2016. She also finds that the output of the economy was the same over the two years. A situation like this is possible only if . the annual inflation rate in the economy is negative the annual inflation rate in the economy is 0 percent the annual interest rate in the economy is negative the annual interest rate in the economy is 0 percent

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter26: Earnings, Productivity, And The Job Market

Section: Chapter Questions

Problem 11CQ

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Question

45 percent
67 percent
21 percent
55 percent

If the opportunity cost of working outside the home increases, then ________ the labor supply curve, assuming all else equal.

there will be a left shift in
there will be a right shift in
there will be an upward movement along
there will be a downward movement along

Which of the following statements is true?
Technological innovation always leads to unemployment in an economy as a whole.
Technological innovation can cause wages to fall for some workers in an economy.
Technological innovation increases wages for all workers in an economy.
Technological innovation reduces the demand for goods and services in an economy.

If the annual inflation rate in an economy is i, then $1 borrowed at the beginning of a year will have the same purchasing power as ________ dollars at the end of the year.

i
(1/i)
(1 − i)
(1 + i)

If a bank borrows funds for 3 years, the borrowing will be classified as ________.

long-term debt
dividend payments
stockholders' equity
short-term borrowing

Consider two banks: Bank A and Bank B. Suppose the value of liabilities of both the banks is equal. However, Bank A is solvent, while Bank B is insolvent. This would imply that ________.

Bank A's assets exceed Bank B's assets
Bank B's assets exceed Bank A's assets
Bank A's liabilities exceed Bank A's assets
Bank B's assets exceed Bank B's liabilities

A researcher finds that, for an economy, the nominal GDP in the year 2015 equaled the nominal GDP in the year 2016. She also finds that the output of the economy was the same over the two years. A situation like this is possible only if ________.

the annual inflation rate in the economy is negative
the annual inflation rate in the economy is 0 percent
the annual interest rate in the economy is negative
the annual interest rate in the economy is 0 percent

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