The labor force is defined as the number of
A. people who are working.
B. employed plus the number of unemployed.
C. people who are working in labor-type jobs.
D. union members who are working.
Answer: B
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Suppose the market clearing price is $15 and the price ceiling is $17. The price that prevails in the market will be
A) $17. B) $15. C) less than $15. D) more than $17.
A change in the price level will cause a shift in the expenditure schedule.
Answer the following statement true (T) or false (F)
Between 2015 and 2016 the government reported that disposable income decreased by $400 billion. If the MPC equals 0.8, then consumption expenditure
What will be an ideal response?
The Tragedy of the Commons can be corrected by
a. conducting a cost-benefit analysis. b. assigning property rights to individuals. c. providing government subsidies for the resource. d. making certain everyone in the economy has access to the resource.