In 2004, based on concepts similar to those used to estimate U.S. employment figures, the Canadian adult non-institutionalized population was 25.002 million, the labor force was 16,956 million, and the number of people employed was 15.864 million. According to these numbers, the Canadian labor-force participation rate and unemployment rate were about
a. 67.8% and 6.4%
b. 67.8% and 4.4%
c. 63.4% and 6.4%
d. 63.45 and 4.4%
Answer: A
Macroeconomics
- Suppose that a worker in Radioland can produce either 4 radios or 1 television per year, and a worker in Teeveeland can produce either 2 radios or 4 televisions per year. Each nation has 100 workers. Also suppose that each country completely specializes in producing the good for which it has a comparative advantage. If Radioland trades 100 radios to Teeveeland in exchange for 100 televisions each year, then each country's maximum consumption of new radios and televisions per year will be
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- Which of the following is an example of a normative statement?
- Which of these statements is a normative statement (as opposed to a positive statement)?
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