Professor Zebrowski's business class has 25 students. Six students in the class have part-time jobs and go to school full-time. Two students in the class have full-time jobs and go to school part-time. Three students in the class are looking for part-time jobs. How many students in the class count as part of the labor force?

25
8
11
9
14

Real gross domestic product (GDP) is GDP adjusted for changes in

the level of the interest rate.
overall output levels.
overall employment levels.
the level of unemployment.
overall price levels.

Goods that are produced now so that they can be used to produce other goods in the future are called ________ goods.

investment
capital
consumer
normal
opportunity

In the equation M ´ V = P ´ Y, the variable M stands for the

median rate of inflation.
quantity of money.
velocity of money.
movement of goods.
movement of prices.

A nation will engage in voluntary trade if

the trade is approved by the World Trade Center.
it allows a trade partner to specialize.
the terms are mutually beneficial for both parties.
there are no domestic costs associated with trade.
it lacks a comparative advantage in the production of every good.

Suppose the number of people who retire is greater than the number of people who enter the workforce and find jobs. All else the same, the labor force participation rate will ________ and the unemployment rate will ________.

increase; increase
decrease; decrease
decrease; increase
increase; decrease
decrease; not change