If in an economy (full time employment = 80 million; part-time employment = 25 million; unemployment = 15 million, and the number of discouraged workers = 5 million) the unemployment rate is:

a) 16.7%

b) 25.0%

c) 12.5%

d) 18.8%

If the total population of a country is 100 million and it's civilian labour force is 50 million, of which 47 million are employed, then the rate of unemployment in the country must be:

a) 3%

b6%

c) 7%

d9%

The most valid indicator of changes in a country's standard of living over time is:

a) net investment

b per capita real GDP

cper capita GDP

d) real GDP

e) GDP

Full employment is said to exist when:

a) the unemployment rate is in the 5-7% range

b) there is no frictional unemployment

c) there is no structural unemployment

d) there is no cyclical unemployment

e) every Canadian who wants a job has one