QUESTION 43If the population of a country is 1,000,000 people, its labor force consists of 500,000, and 40,000 people are unemployed, theunemployment rate is:O 50.0 percent.8.0 percent.7.4 percent.4.0 percent.QUESTION 44Inflation is defined as:The level of prices at full-employment.An increase in the price of expensive items, such as cars.An increase in the average level of prices.An increase in relative prices.QUESTION 45Over time, U.S. real GDP has increased:By small, constant increments.At a constant geometric rate.At an average rate of 3 percent per year.At an average rate of 7 percent per year.

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QUESTION 43 If the population of a country is 1,000,000 people, its labor force consists of 500,000, and 40,000 people are unemployed, the unemployment rate is: 50.0 percent. 8.0 percent. 7.4 percent. 4.0 percent.

QUESTION 43 If the population of a country is 1,000,000 people, its labor force consists of 500,000, and 40,000 people are unemployed, the unemployment rate is: 50.0 percent. 8.0 percent. 7.4 percent. 4.0 percent.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 18P

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