What best describes changes in sectors in the US?
a. Agriculture was the chief generator of income in the United States until the decade of the 1880s.
b. The number of people employed in manufacturing passed the number employed in agriculture shortly after the War of 1812.
c. The percentage of the US labor force employed in agriculture increased slowly until the Civil War and declined from then to the present time.
d. The current number of people employed in the government sector is about the same as the number of people employed in the service sector.
a. Agriculture was the chief generator of income in the United States until the decade of the 1880s.
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What is the threshold age for individuals to be considered as being in the "labor force" for statistical purposes?
A) 16 B) 18 C) 21 D) Over 21
First-price auctions have all the following properties EXCEPT
a. Highest bid wins b. Highest bidder pays her winning bid c. The item is won by the second-highest bidder d. The price is set to the highest bid
When the U.S. government provides military aid to other governments, this enters into the U.S. balance of payments account as
a. merchandise exports b. merchandise imports c. income payments on investments d. unilateral transfers e. change in U.S. assets abroad
The change in total output due to the change in one variable input, while holding all other inputs constant, is the
A. marginal physical product. B. derived demand for labor. C. marginal revenue product. D. market demand curve for labor.