In a Country with a Working- Age Population of 22

question 54

Multiple Choice

In a country with a working- age population of 22 million, 18 million are employed, 2 million are unemployed, and 1 million of the employed are working part- time, half of whom wish to work full- time.If 500,000 of the unemployed are cyclically unemployed, what is the natural unemployment rate?

• A)10.0 percent
• B)7.5 percent
• C)2.5 percent
• D)5.6 percent
• E)8.3 percent

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Definitions:

Foreign Sovereign Immunities Act

A U.S. law that sets limitations on lawsuits against foreign governments in U.S. courts, establishing exceptions under which such lawsuits are allowed.

Commercial Activity

Any form of business or trade activity, including the provision of goods and services, conducted with the intent of generating profit.

Quota

A government-imposed trade restriction that limits the number, or sometimes the value, of goods and services that can be imported or exported during a particular time period.

Beef Import

The act of bringing beef into a country from abroad for sale.