(Labor Force ÷ Adult Population) × 100. (Adult Population ÷ Labor Force) x 100.

Question

(Labor Force ÷ Adult Population) × 100. (Adult Population ÷ Labor Force) x 100. d. 20. M1 includes a. currency. b. demand deposits. c. travelers' checks. d All of the above are correct. Answer 21. Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists 22. What is the difference between commodity money and fiat money? Why do people accept fiat currency in 23. What is meant by the term "lender of last resort?" In what circumstances might the Fed be a lender of last would attribute at least part of this difference to minimum-wage laws. (Hint: who is likely to get paid more?) trade for goods and services? resort?

Explanation / Answer

20. D) all of the above

M1 includes demand deposits, currency including coins in the hands of public and traveler's checks.

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