NEED AN EXPERT IN MACROECONOMICS TO ANSWER THE 10 QUESTIONS:

1. Many economists argue that an incentive to save is

1. A tax on consumption rather than on income
2. Greater government regulation of the banking and securities industries
3. Strengthening the property rights that savers have to their physical capital
4. A tax on income rather than a tax on consumption

2. Bill has graduated from a University with a degree in Accounting. The Universities' Career Services submitted his resume to several companies that Bill will visit the next two weeks. Bill is considered

1. Cyclically unemployed
2. Not in the labor force
3. Frictionally unemployed
4. Structurally unemployed

3. Category Number of people

Total population 305

Less than 16 years of age 30

Over 65 years of age 5

Institutionalized 15

Part-time workers 40

Full time workers 145

Actively looking for work 10

In the US Armed forces 20

Using the table above, the working-age population is ____ million

1. 170
2. 250
3. 235
4. 195

4. Labor force includes people who

1. Are in institutions
2. Are less than 16 years of age
3. Answers a & b
4. Are actively seeking a job but do not have a job

5. Category Number of people

Total population 305

Less than 16 years of age 30

Over 65 years of age 5

Institutionalized 15

Part-time workers 40

Full time workers 145

Actively looking for work 10

In the US Armed forces 20

Using the table above, the labor force participation rate

1. 83% b. 80% c. 93% d. 95%

6. A discouraged worker is

1. Someone who is asked to work over time almost everyday
2. A person who is not happy with his or her job
3. Someone who does not have a job but has given up looking
4. Someone who works part time and wants a full time job

7. The federal government has a budget surplus when

1. Government spending exceeds tax receipts
2. Tax receipts exceeds government spending
3. Tax receipts are rising and government spending failing
4. Tax receipts are falling and government spending are rising

8. The natural unemployment rate is the unemployment rate that exists when there is no

1. Seasonal unemployment
2. Cyclical unemployment
3. Structural unemployment
4. Frictionally unemployment

9. A regulation that sets the highest price at which it is legal to trade a good is a

A. Price floor b. Price ceiling c. Price Support d. Production quota

10. Assume that the population of an island is 275 million. If 210 million people are of working age, 135 million are unemployed, and 6 million are unemployed, what is the size of the labor force?

A. 141 million b. 204 million c. 135 million d. 210 million