28. There are 130 million workers in the labor force: the unemployment rate is 5% . There are million of unemployed workers. 8. 3 b. 6.5 C. 9.86 d. 11.5e. 45.6 29. There are 20 million workers in the labor force. 3 million are unemployed; the unemployment rate is a. 12% b. 13% c. 14% d. 15% e. 16% 30. There are 10 million unemployed in the economy: the unemployment rate is 20%. There are million workers in the labor force. a. 30 b. 40 c. 50 d. 60 e. 70 31. If 5 million unemployed in question 30 get discouraged and stop looking for work. the unemployment rate is. a. 2% b. 3% C. 4% d. 10% e. 11.11% 32. Let GDP = $11 trillion, C = $8 trillion, I = $1 trillion, G = $2 trillion and X = $2 trillion. The value of imports is $ trillion 3. 1 b. 2 c. 3 d. 4 e. 5 33. Let GDP = $10 trillion, C = $7 trillion, I = $1 trillion, G = $2 trillion and M = $2 trillion. The value of exports is $ trillion. a. 1 b. 2 c. 3 d. 4 e. 5 34. Inflation is defined as a. Increase in the price of commodities. Expansion of the consumer basket. C. Increase in price of assets d. Increase in the price level. 35. Disinflation is a. Deflation. b. Particularly strong inflation. Decrease in the rate of inflation. None of the above is correct. 36. Deflation a. Helps the economy because consumers enjoy rising real wages. b. Helps the economy because companies have lower costs. d. Is harmful because it erodes profit of companies. Does not matter because money is neutral. 37. Let 5 = $2 trillion, I = $2 trillion, G = $3 trillion, T = $2 trillion and M = $2 trillion. The value of exports X is $ trillion. a. b. - $1 trillion. 50 trillion. C. $1 trillion. d. $2 trillion