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econ 2301 Exam| Questions with 100% Solutions/Verified Answers

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Which of the following equations represents the unemployment rate? - ANSWER (number of unemployed / labor force) × 100 Individuals who are working part-time but would prefer to be working full-time are defined as - ANSWER underemployed workers Inflation is defined as - ANSWER an increase in the overall level of prices The consumer price index (CPI) in the base year will always have the value of - ANSWER 100

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