The labor force participation rate is
A. the percentage of the population who are in the labor force.
B. the percentage of the non-institutionalized population who is in the labor force.
C. the percentage of the non-institutionalized working age population who is in the labor force.
D. the percentage of the entire population who is in the labor force.
Answer: C
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If the consumption function is C = 25 + 0.9y and income increases by $100, then savings will increase by
A) $10. B) $25. C) $90. D) $115.
M2 is
A) smaller than M1. B) larger than M1. C) equal to M1, given full employment. D) equal to M1, but only when all three functions of money apply.
The main objective of financial liberalization is ________
A) to encourage financial innovation B) to improve the allocation of financial capital C) to discourage volatility in financial markets D) to reduce the likelihood of a credit boom
Under a reserve clause structure, the wage paid to a professional athlete is likely to be close to his
A. average compensation. B. deadweight loss. C. reservation wage. D. marginal revenue product.