During the period from 2000 to today the Labor Force Participation Rate
A. Fell.
B. Increased due largely to women entering the labor force
C. Increased due largely to teens entering the labor force
D. Remained remarkably constant
Answer: A
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Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. What is the market value of production in this economy?
A. $7.00 B. $1.20 C. $2.00 D. $5.00
The unemployment rate is usually ________ during a depression
A) below 3% B) above 20% C) between 3% to 5% D) between 5% to 10%
Accounting profits can tell a business _______________________, and economic profits can tell a business ______________________.
A. if it is making money with this venture; if it can make more money with a different venture B. if it can make more money with a different venture; if it is making money with this venture C. if it is a profitable business; if it can be any more profitable D. if it can be any more profitable; if it is profitable
Accounting profits are typically:
A. greater than economic profits because the former do not take explicit costs into account. B. equal to economic profits because accounting costs include all opportunity costs. C. smaller than economic profits because the former do not take implicit costs into account. D. greater than economic profits because the former do not take implicit costs into account.