Which of the following terms is used to describe the Labor Force as a % of...
Which of the following terms is used to describe the Labor Force as a % of the entire adult population?
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labor force participation rate |
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frictional unemployment |
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full employment |
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cyclical unemployment |
If the MPC is .75, then which of the following would be a correct statement?
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consumers save 25% of an increase in income |
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consumers will spend 75% of a pay increase |
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consumption will increase by the amount of the MPC when income goes up |
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all of the above are correct |
Unemployed construction workers in the winter would be classified under
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frictional unemployment |
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cyclical unemployment |
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structural unemployment |
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seasonal unemployment |
Homework Answers
a) "A"
Labor force participation rate describes the labor force as % of the entire adult population.
b) "d"
As the MPC is 0.75% then the consumer is spending 75% of a pay increase. they will save 25% of the income, all the statements are correct.
c) "D"
They would be classified as seasonal unemployed.
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