The US unemployment rate rose to 6.1 percent in April 2021, from 6.0 percent in the previous month and defying market expectations of 5.8 percent, as more workers began looking for work and re-entered the labor market. The number of unemployed people increased by 102 thousand to 9.81 million and the number of employed was up by 328 thousand to 151.2 million, while the activity rate rose to 61.7 percent from 61.5 percent in March. Unemployment levels were down considerably from their recent highs in April 2020 but remained well above their levels prior to the coronavirus pandemic.

The US unemployment rate rose to 6.1 percent in April 2021, from 6.0 percent in the previous month and defying market expectations of 5.8 percent, as more workers began looking for work and re-entered the labor market. The number of unemployed people increased by 102 thousand to 9.81 million and the number of employed was up by 328 thousand to 151.2 million, while the activity rate rose to 61.7 percent from 61.5 percent in March. Unemployment levels were down considerably from their recent highs in April 2020 but remained well above their levels prior to the coronavirus pandemic.

The US unemployment rate rose to 6.1 percent in April 2021, from 6.0 percent in the previous month and defying market expectations of 5.8 percent, as more workers began looking for work and re-entered the labor market. The number of unemployed people increased by 102 thousand to 9.81 million and the number of employed was up by 328 thousand to 151.2 million, while the activity rate rose to 61.7 percent from 61.5 percent in March. Unemployment levels were down considerably from their recent highs in April 2020 but remained well above their levels prior to the coronavirus pandemic.

Question 11

1. Which among the following statement is INCORRECT?

2. If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:

3. The horizontal demand curve parallel to x-axis implies that the elasticity of demand is:

4. An individual demand curve slopes downward to the right because of the:

5. Income elasticity of demand is defined as the responsiveness of:

6. Income elasticity of demand is defined as the responsiveness of:

7. The supply of a good refers to

8. The cost of one thing in terms of the alternative given up is called:

9. Assume that consumer's income and the number of sellers in the market for good X both falls. Based on this information, we can conclude with certainty that the equilibrium:

10. The economist's objections to monopoly rest on which of the following grounds?