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1) The existence of persons working in the underground economy and not counted in the workforce will lead to an official unemployment rate that is: A) overstated. [because the official unemployment figures will include some of the people working in the underground economy as not working and hence unemployed although they are actually employed. This will happen if these people are not counted both in the workforce and in the unemployed category. If they are not counted in the potential gross workforce (persons in working age) but included in the unemployed category, then the official unemployment figure will overstated. ] 2) In periods when GDP fails to grow at its normal rate, the actual unemployment rate will be ________ than the natural rate of unemployment. C) higher [ Other options do not make sense: slower than normal rate of GDP cannot increase or change the employment rate for actual unemployment to either the same or lower than or more variabe than the natural rate] 3) Suppose that the CPI in a country was 180 in 2003 and 230 in 2004. The inflation rate between those two years was: A) 27.78%. [Inflation is calculated as {(230 - 180)*100/ 180}%= {50*100/180}% = 27.78%] 4)Workers often have ________ contracts and so their wages are ________. C) long-term, sticky [Trade unions generally want that the wages are not lowered (downward sticky) for relatively long periods with clauses for renegotiation]
Economics question help?
Depends which glass it is - if first then marginal benefit is huge, if last then marginal benefit is close to zero or even negative.
Economics Help Please?
MUx= A1/2y*1/3/ X*1/2 MUy=A1/2x*1/2/Y*2/3 MUx/MUy=1/2 and x+2y=100 just solve your two equations. for x and y.
Help with Economics Hw PLEASE!?
1. The silly clothes worn by a circus clown are an example of? A. Natural Resource B. Capital Goods C. Labor D. Entrepreneurship 2. "An Increase in the federal min wage will provide a living wage for the working poor" A. Statement of Positive Economics B. A fallacy of composition C. A Tautology D. Statement of normative Economics Thanks for the help!
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Economics homework help please?
Q2. A demand function for gasoline is as follows: Calculate the price elasticity at a gasoline price of $3 per gallon. Q3. An individual has the following demand function for gasoline: Where income and car price are measured in thousands, and the price of bus travel is measured in average dollars per 100 miles traveled. Assuming the average automobile price is $22,000, income is $40,000, the price of bus travel is $25, and the price of gasoline is $30, calculate and interpret the income elasticity of gasoline demand and the cross-price elasticity of gasoline demand with respect to the price of bus travel.
Economics Study Guide Help?
1. A dollar in the 1960's was worth as much as a dollar today in terms of how much can be purchased with it. a. true b. false It is possible to accurately predict when changes will occur in the economy. a. True b. False According to the business cycle, an expansion of the economy always follows (comes after) a peak or boom. a. true b. false As price increases, purchasing power decreases. a. True b. False 5. Which former President of the U.S. came up with the term depression? a. Herbert Hoover b. Dwight Eisenhower c. Warren Harding d. Woodrow Wilson 6. Which United States President spoke about the Great Depression in 1937, during his Second Inaugural Address? a. Calvin Coolidge b. Harry Truman c. Herbert Hoover d. Franklin Roosevelt 7. What is a term that means a prolonged rise in the general price level of goods and services? a. Recession b. Inflation c. Contraction d. Expansion
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New Durable goods orders were up in January over December which were greater than November and above one year ago. What can we infer about this for the near-term for the economy.
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