During times of recession, the labor force participation rate typically:
A. rises, as more incomes per household are needed to make ends meet.
B. falls, as more people cannot find work, they stay in jobs that aren't a good fit.
C. falls, as more people give up and stop looking for work.
D. rises, as more people need work.
Answer: C
You might also like to view...
A cartel is most likely to occur in
A) perfect competition as firms compete by reducing cost. B) oligopoly as firms act together to raise prices and increase profits. C) monopolistic competition where firms collude to increase profits. D) oligopoly as firms compete to lower price and increase their own profits. E) monopoly because it faces no competition.
The market for unskilled labor is illustrated in the figure above. If a minimum wage of $5 per hour is imposed, an employer who breaks the law will be able to find a worker who is willing to work for
A) less than or equal to $4 per hour. B) between $4 and $5 per hour. C) more than or equal to $5 per hour. D) None of the above because workers are not willing to supply labor for wage rates less than $5 per hour.
The Celler-Kefauver Act deals primarily with which of the following issues?
a. Price discrimination. b. Exclusive dealing. c. Mergers. d. Deceptive advertising. e. Boards of directors.
An increase in the wage rate will cause the demand for labor curve to shift rightward
a. True b. False Indicate whether the statement is true or false