1.Which of the following individuals is in the labor force?
a. a 15 year old worker at a fast food restaurant
b. a paid prison worker the prison carpentry shop
c. a college student attending school full-time
d. a stay-at-home dad
e. none of above
(I think the answer is none of the above).
2.The full-employment unemployment rate is
a.0
b.inconsistent with price stability
c.the rate that reflects cyclical unempoyment
d.10%
e. none of the above
(I think the answer is c).
3.Which of the following is not a cause of unemploymen
a. an increase in aggregate demand
b. a decrease in aggregate demand
c. a decrease in aggregate supply
d. real wage rates that are above equilibrium levels
e. minimum wage legislation
( I think the answer is a).
a. a 15 year old worker at a fast food restaurant
b. a paid prison worker the prison carpentry shop
c. a college student attending school full-time
d. a stay-at-home dad
e. none of above
(I think the answer is none of the above).
2.The full-employment unemployment rate is
a.0
b.inconsistent with price stability
c.the rate that reflects cyclical unempoyment
d.10%
e. none of the above
(I think the answer is c).
3.Which of the following is not a cause of unemploymen
a. an increase in aggregate demand
b. a decrease in aggregate demand
c. a decrease in aggregate supply
d. real wage rates that are above equilibrium levels
e. minimum wage legislation
( I think the answer is a).