1. a. is able to participate in the labor market. b. has ever been employed. c.
ID: 1184606 • Letter: 1
Question
1.
a. is able to participate in the labor market. b. has ever been employed. c. has chosen to participate in the labor market. d. has chosen not to participate in the labor market.2.
Andre owns his own business. Oscar is an unpaid worker in his family's business. Who is included in the Bureau of Labor Statistics' "employed" category? a. only Andre b. only Oscar c. both Andre and Oscar d. neither Andre nor Oscar
3.
The reserve requirement is 4%, banks hold no excess reserves and people hold no currency. If the Fed sells $10,000 of bonds what happens to the money supply? a. it increases by $250,000 b. it increases by $200,000 c. it decreases by $200,000 d. it decreases by $250,000
4.
If the Fed increases the money supply, then 1/P a. falls, so the value of money falls. b. falls, so the value of money rises. c. rises, so the value of money falls. d. rises, so the value of money rises.
Explanation / Answer
b,d,d,a 1-a 2-d 3-d 4-a 1) The labor force participation rate is the ratio between the labor force and the overall size of their cohort (national population of the same age range). 2) Andre is self employed and Oscar is unemployed so none of them are counted as employed in BLS. 3)Fed sells bond > people buy bond > people pay money > money available with people decreases > money supply decreases by 10000/.04 times 4) same logic as 3
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